Which of the following defines a remainder as a form of future interest?
A) It is a right of possession that returns to the grantor after the expiration of a limited or contingent estate.
B) It is a right of possession that returns to a third party upon the expiration of a limited or contingent estate.
C) It is a form of concurrent possession of a multiple-dwelling building in which a corporation owns the building and the residents own shares in the corporation.
D) It is a form of concurrent possession that includes the right of survivorship.

Question

Quizplus · Accepted Answer

A remainder is a future interest in property that becomes possessory when a temporary estate, such as a life estate, ends, and it passes to a third party rather than reverting to the grantor.

Which of the Following Defines a Remainder as a Form