VESTED REMAINDER Meaning and
Definition
-
A vested remainder is a legal term used in the field of property law to refer to a future interest in a property that is certain to occur upon the happening of a particular event or the expiration of a specific period of time. It represents the right of a specific person or entity to possess and enjoy a property in the future, but only when certain conditions or contingencies have been met.
The term "vested" indicates that the right to ownership is fully established and not subject to any further conditions or contingencies. Once a remainder interest becomes vested, it is not subject to the actions, decisions, or changes in circumstances of any other parties involved. The vested remainder holder has a legal entitlement to the property that cannot be taken away.
Unlike contingent remainders, which are dependent upon the occurrence of uncertain future events, a vested remainder is fixed and certain. It may be created as a result of a conveyance or through a will. The vested remainder interest can be transferred, sold, or inherited by the beneficiary, even before the actual possession or enjoyment of the property takes place.
In summary, a vested remainder is a legally recognized future interest in a property that becomes certain to take effect upon the occurrence of specific events or the passage of a specific period of time. It denotes a fixed and absolute entitlement that is not subject to any further conditions or contingencies.
Common Misspellings for VESTED REMAINDER
- cested remainder
- bested remainder
- gested remainder
- fested remainder
- vwsted remainder
- vssted remainder
- vdsted remainder
- vrsted remainder
- v4sted remainder
- v3sted remainder
- veated remainder
- vezted remainder
- vexted remainder
- vedted remainder
- veeted remainder
- vewted remainder
- vesred remainder
- vesfed remainder
- vesged remainder
- vesyed remainder
Etymology of VESTED REMAINDER
The term "vested remainder" is a legal term used in property law to describe an interest in land or property that is given to a person, known as the remainderman, which is certain to take effect in the future. The etymology of the term can be understood by breaking it down into its constituent parts:
1. Vested: The word "vested" comes from the Latin word "vestire", which means "to clothe" or "to put on". In legal terminology, a vested interest refers to a right or entitlement that is complete and not dependent on any future event. In the context of a vested remainder, it means that the interest in land or property has been fully granted and is not subject to any conditions.
2. Remainder: The word "remainder" comes from the Latin word "remanere", which means "to remain" or "to stay behind".
Infographic
Add the infographic to your website:
