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May 1, 2024 · A remainderman is a property law term that refers to the person who inherits or is entitled to inherit property upon the termination of the life estate of the former owner.
- Julia Kagan
Sep 28, 2023 · A remainderman has an interest in assuring that the life tenant does not destroy, damage, or otherwise diminish the value of the property. The life tenant must maintain the property, make any existing mortgage payments, pay property taxes, and keep the property adequately insured.
A remainderman is a person who inherits or is entitled to inherit property upon the termination of the estate of the former owner. [1] 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.
Dec 28, 2021 · A remainderman is a beneficiary in a life estate who will inherit property after the life tenant’s death. There can be more than one remainderman if you divide the property. Here’s how it works. Consider working with a financial advisor as you create or modify an estate plan.
Jan 18, 2024 · A remainderman, therefore, refers to the person or entity who inherits or receives a property or asset after the original owner’s interest expires or ends. This concept is commonly found in trusts, wills, and other estate planning instruments.
A remainderman is a property law term that refers to a person who stands to inherit property at a future point in time upon the termination of a preceding estate—usually a life estate. A remainderman is a third person other than the estate’s creator, initial holder, or either’s heirs.
Mar 15, 2024 · A remainderman is someone designated to receive ownership of a property after the termination of a life estate. A life estate, on the other hand, is an arrangement wherein a person holds property ownership for their lifetime, with ownership passing to the remainderman upon their demise.
