Can a Remainderman sell his interest?

Can a Remainderman sell his interest?

A remainderman may sell his interest in the property, but the buyer would take the property subject to the rights of life tenant. If the life tenant and the remainderman both agree and sign transfer documents, the property can be sold before the life tenant dies.

What is an alternative contingent remainder?

A pair of remainders that have opposite conditions precedent. wills. property & real estate law.

What is a remainder in land law?

Related Content. An interest in a trust (or under the terms of a will), where the beneficiary’s possession and enjoyment of the trust assets is postponed by a prior interest in the same assets. For example, Doreen dies and in her will leaves her husband, Alf, a life interest in Rose Cottage.

What is the meaning of reversion?

1a : the part of a simple estate remaining in the control of its owner after the owner has granted therefrom a lesser particular estate. b : a future interest in property left in the control of a grantor or the grantor’s successor.

What is remainder after division?

In arithmetic, the remainder is the integer “left over” after dividing one integer by another to produce an integer quotient (integer division). The modulo operation is the operation that produces such a remainder when given a dividend and divisor.

What is reversionary interest?

A landowner who is concerned about the future use of his land can donate or sell the land on a conditional rather than absolute basis. A reversionary interest is created by a deed that reserves to the grantor a future ownership right upon the occurrence of some condition.

What does reversion of a lease mean?

The term reversionary lease is used to describe a lease “where possession is delayed to a future date” and is different from a lease of the reversion. In simple terms a reversionary lease is one which is granted today, with a term commencement date of tomorrow or some other future date.

What is a reversionary freehold?

A freehold reversion is where the property reverts back to the freeholder on expiry of the lease term. Ring the auctioneers and get them to confirm the interest being sold at auction/ I agree.

What is a reversion clause?

A clause included in some publishing contracts stating that ownership of some or all works contained within the agreement will revert back to the songwriter after a certain period of time or if certain conditions are met, like successful placement on a major label release.

What is a reversion date?

Reversion Date means the date on which one or both of the Rating Agencies withdraw their Investment Grade Rating or downgrade the rating assigned to the Notes below an Investment Grade Rating.

What is a reversion property law?

Reversion, in Anglo-American law, interest held by a prior owner in property given to another, which, upon the happening of some future event, will return to that prior owner. A reversion is itself specific property, and it can be sold or disposed of as property by the reversion owner.

Who is Reversioner possession?

Reversioner in possession: a reversion occurs when a property owner makes an effective transfer of property to another but retains some future right to the property.

What is the difference between reversion and remainder?

The key difference between a reversion and a remainder is that a reversion is held by the grantor of the original conveyance, whereas “remainder” is used to refer to an interest that would be a reversion, but is instead transferred to someone other than the grantor.

Can a life estate be Defeasible?

Property Law. A defeasible life estate is one that terminates upon the occurrence of a specified event or condition or upon the death of the life tenant, whichever occurs first (e.g., A conveys property to B for life as long as the property is used for residential purposes).