Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Remainder
Property. 1. A future interest arising in a third person - that is, someone other than the creator of the estate or the creator's heirs - who is intended to take after the natural termination of the preceding estate. For example, if a grant is "to A for life, and then to B," B's future interest is a remainder. Cf. EXECUTORY INTEREST; REVERSION; POSSIBILITY OF REVERTER.
Remainderer
See REMAINDERMAN.
Remainderman
A person who holds or is entitled to receive a remainder. - Also termed remainderer; remainderperson; remainor.
accelerated remainder
A remainder that has passed to the remainderman, as when the gift to the preceding beneficiary fails.
acceleration of remainder
See ACCELERATION (2).
alternative remainder
see remainder.
charitable remainder
See REMAINDER.
charitable remainder annuity trust
A charitable-remainder trust in which the beneficiaries receive for a specified period a fixed payment of 5% or more of the fair market value of the original principal, after which the remaining principal passes to charity.
charitable-remainder trust
See TRUST.
contingent remainder
A remainder that is either given to an unascertained person or made subject to a condition precedent. ( An example is "to A for life, and then, if B has married before A dies, to B." - Also termed executory remainder; remainder subject to a condition precedent.
cross-remainder
A future interest that results when particular estates are given to two or more persons in different parcels of land, or in the same land in undivided shares, and the remainders of all the estates are made to vest in the survivor or survivors. ( Two examples of devises giving rise to cross-remainders are (1) "to A and B for life, with the remainder to the survivor and her heirs," and (2) "Blackacre to A and Whiteacre to B, with the remainder of A's estate to B on A's failure of issue, and the remainder of B's estate to A on B's failure of issue." ( If no tenants or issue survive, the remainder vests in a third party (sometimes known as the ulterior remainderman). Each tenant in common has a reciprocal, or cross, remainder in the share of the others. This type of remainder could not be created by deed unless expressly stated. It could, however, be implied in a will.
defeasible remainder
A vested remainder that will be eliminated if a condition subsequent occurs. ( An example is "to A for life, and then to B, but if B ever sells liquor on the land, then to C." - Also termed remainder subject to divestment.
destructibility of contingent remainders
Property. The common-law doctrine requiring a future interest to vest by the time it is to become possessory or else suffer total destruction (the interest then reverting to the grantor). ( This doctrine has been abolished in all but a few American jurisdictions; the abolishing statutes are commonly termed anti-destructibility statutes. - Also termed destructibility rule. "The destructibility rule still exists in its old commonlaw form in Florida. Various authors have suggested that it also exists unchanged in Arkansas, North Carolina, Oregon, Pennsylvania, South Carolina, and Tennessee; but there are no statutes or recent decisions to clarify the rule's status in these states." Thomas F. Bergin & Paul G. Haskell, Preface to Estates in Land and Future Interests 79 n.46 (2d ed. 1984).
executed remainder
See vested remainder.
executory remainder
See contingent remainder.
formedon in the remainder
A writ of formedon brought by a remainderman under a grant or gift in tail to recover possession of the land.
indefeasible remainder
A vested remainder that is not subject to a condition subsequent. - Also termed indefeasibly vested remainder.
indefeasibly vested remainder
See indefeasible remainder under REMAINDER.
remainder bequest
See residuary bequest under BEQUEST.
remainder interest
The property that passes to a beneficiary after the expiration of an intervening income interest. ( For example, if a grantor places real estate in trust with income to A for life and remainder to B upon A's death, then B has a remainder interest.
remainder subject to a condition precedent
See contingent remainder.
remainder subject to divestment
See defensible remainder.
remainder subject to open
A vested remainder that is given to one person but that may later have to be shared with others. ( An example is "to A for life, and then equally to all of B's children." - Also termed remainder subject to partial divestment.
remainder subject to partial divestment
See remainder subject to open under REMAINDER.
vested remainder
A remainder that is given to an ascertained person and that is not subject to a condition precedent. ( An example is "to A for life, and then to B." - Also termed executed remainder.