Person who has a Future Interest in the estate created by a trust, either as a contingent interest when a life tenant surrenders a claim to the estate, or a vested interest that becomes effective at a specified future date.
Remainderman
| Banking Dictionary: Remainderman |
| 5min Related Video: Remainderman |
| Real Estate Dictionary: Remainderman |
The person who is to receive Possession of the property after the death of a Life Tenant.
Example: See example under Remainder.
| Law Dictionary: Remainderman |
One who has an interest in land in futuro; one who has an interest in an estate which becomes possessory at some point in the future after the termination, by whatever reason, of a present possessory interest. "Remainderman" usually refers to one who holds an interest in a remainder whether vested or contingent. It may also refer to one who holds an interest in an executory limitation.
| Wikipedia: Remainderman |
A remainderman is a person who inherits or is entitled to inherit property upon the termination of the estate of the former owner. Usually this occurs due to the death or termination of the former owner's life estate, but this can also occur due to a specific notation in a trust passing ownership from one person to another.
For example, if the owner of property makes a grant of that property "to John for life, and then to Jane," Jane is entitled to a future interest, called a remainder, and is termed a remainderman.
Under the required minimum distribution rules for retirement accounts, the remaindermen beneficiaries must be included in the list of beneficiaries provided to the IRA custodian or plan trustee, for purposes of the trust meeting the requirements to be considered ‘qualified’.
The synonyms remainderer, remainderperson, and remainor are found in many legal dictionaries, but despite any political correctness, the terms Remainderwoman and Remainderperson are not used in practice: females in the position of a remainderman are also termed remaindermen.
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 | Reversionary Interest |
| Remainder |
| Future Interest (in banking) |
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Real Estate Dictionary. Dictionary of Real Estate Terms. Copyright © 2004 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Law Dictionary. Law Dictionary. Copyright © 2003 by Barron's Educational Series, Inc. All rights reserved. Read more |
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| Wikipedia. This article is licensed under the Creative Commons Attribution/Share-Alike License. It uses material from the Wikipedia article "Remainderman". Read more |
