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

Question

Quizplus · Accepted Answer

A remainder is an interest in property that becomes possessory when a preceding estate created by the same instrument terminates. This interest is often given to a third party and does not take effect until the end of a life estate or some other particular estate.

An Interest That Arises in a Third Party in the Future