What defines a remainder in property law?

A remainder in property law is defined as a future interest that becomes possessory immediately upon the termination of a preceding estate. This means that when the current owner’s interest in the property ends, the remainder interest automatically takes effect without any intervening interest. The defining characteristic of a remainder is its ability to "follow" a prior estate, often set forth in a will or trust, where the property transfer is structured so that the remainderman will receive the property right after the conditions of the preceding estate are fulfilled.

In this context, other options do not accurately reflect the fundamental nature of a remainder. While a remainder can be vested, it is not a requirement that all remainders must be vested; there are contingent remainders that do not possess this characteristic. Additionally, not all future interests must have conditions attached; a remainder can exist without any conditions, just requiring the preceding interest to expire. Lastly, while a formal deed may be used to transfer interests in property, the existence of a remainder does not necessarily depend on such a formality; it can arise effectively through testamentary or conveyance language. Thus, the identification of a remainder as something that takes effect immediately upon the termination of the prior estate encapsulates its essential nature in