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In common law countries 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 ...
In property law of the United Kingdom and the United States and other common law countries, a remainder is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. [1]
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
A kenning (Old English kenning [cʰɛnːiŋɡ], Modern Icelandic [cʰɛnːiŋk]) is a circumlocution, an ambiguous or roundabout figure of speech, used instead of an ordinary noun in Old Norse, Old English, and later Icelandic poetry. This list is not intended to be comprehensive. Kennings for a particular character are listed in that character ...
Such a life interest trust is the most common example of an interest in possession trust. In the United Kingdom, the 10-yearly inheritance tax charge may be payable on assets transferred into this type of trust on or after 22 March 2006. [2] In the example of a life interest trust, the interest in possession ends when the income beneficiary dies.
In these examples, the (negative) least absolute remainder is obtained from the least positive remainder by subtracting 5, which is d. This holds in general. When dividing by d, either both remainders are positive and therefore equal, or they have opposite signs. If the positive remainder is r 1, and the negative one is r 2, then r 1 = r 2 + d.
In some dialects of French, the English term "weekend" becomes la fin de semaine ("the end of week"), a calque, but in some it is left untranslated as le week-end, a loanword. French cor anglais (literally English horn) is a near-calque of English French horn. In English cor anglais refers to a completely different musical instrument.