A remainderman is a person who is entitled to inherit property after the current owner's estate has ended. This term is commonly used in property law. When a property owner grants someone a life estate, such as "to A for life, and then to B," B is the remainderman. B will receive full ownership of the property only after A's death, at which point B's interest becomes possessory.
The term remainderman is primarily used in property law, particularly in estate planning and trusts. It is important in scenarios involving wills, trusts, and property transfers. Users can manage these legal matters themselves with the right tools, such as legal templates provided by US Legal Forms, which are drafted by qualified attorneys.
Here are a couple of examples of abatement:
Example 1: If a grandmother leaves her house to her daughter for her lifetime and then to her grandson, the grandson is the remainderman. He will inherit the house only after his mother passes away.
Example 2: A trust may specify that a remainderman will inherit certain assets once the trust is dissolved, allowing them to manage the property after that point. (hypothetical example)
Examples of state differences (not exhaustive):
| State | Remainderman Rights |
|---|---|
| California | Remaindermen have specific rights outlined in the California Probate Code. |
| New York | New York law provides detailed provisions regarding remainderman interests in estates. |
| Texas | Texas recognizes remainderman interests but may have different procedures for transferring property. |
This is not a complete list. State laws vary, and users should consult local rules for specific guidance.
| Term | Definition | Difference |
|---|---|---|
| Life Tenant | A person who holds a life estate in property. | A remainderman inherits after the life tenant's interest ends. |
| Heir | A person legally entitled to inherit property upon someone's death. | A remainderman's interest is defined by a specific legal document, while an heir is determined by law. |
If you believe you are a remainderman, it is crucial to understand your rights and responsibilities. You may want to:
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The remainderman will inherit the property once the life tenant passes away.