An interest in the future that arises in a third party is called a(n):
A) reversion.
B) remainder.
C) assignment.
D) fee simple absolute.

Question

Quizplus · Accepted Answer

An interest in the future that arises in a third party is called a remainder. It is a type of future interest that is created in a grantor's conveyance of property, where the grantor transfers ownership of the property to a grantee, but specifies that the ownership will revert to a third party, known as the remainderman, after the grantee's interest in the property terminates.

An Interest in the Future That Arises in a Third