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A remainderman is a person who inherits or is entitled to inherit property upon the termination of the estate of the former owner. [1] Usually, this occurs due to the death or termination of the former owner's life estate, but this can also occur due to a specific notation in a trust passing ownership from one person to another.
In common law and statutory law, a life estate (or life tenancy) is the ownership of immovable property for the duration of a person's life. In legal terms, it is an estate in real property that ends at death, when the property rights may revert to the original owner or to another person. The owner of a life estate is called a "life tenant".
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In property law of the United Kingdom and the United States and other common law countries, a remainder is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. [1]
Caleb Nelson, Emerson G. Spies Distinguished Professor of Law at the University of Virginia School of Law; Charles Phelps Taft II, Mayor of Cincinnati (1955–1957) Charles R. Saxbe, former member of the Ohio House of Representatives (1975-1982) and 1982 Republican candidate for Ohio Attorney General; Robert A. Taft, U.S. Senator from Ohio ...
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