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The future interest of C is not certain, thus it is "defeasible". Additionally, the interest cannot become smaller by the addition of more remainder owners, thus it is not "open". The identifying component is the possibility of being divested by D who owns an executory interest from the remainder if C becomes a lawyer. [7]
But, if there is a reversionary interest, the age of the grantor now comes into the valuation of the retained interest. Because now there is a possibility that the grantor will die within the retained term and the remainder beneficiaries will then receive nothing, the value of the retained term increases and the value of the remainder interest ...
A remainder is a future interest in a third party that vests upon the natural conclusion of the grant to the original grantee. It is the interest in the property that is "left over", or remains, after the original grantee is finished possessing it. For example, O's grant "to A for life, then to B" creates a remainder in B.
A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum than he has (such as the owner of a fee simple granting a life estate or a leasehold estate).
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.
Interest rate changes are among the only means that the federal government has to control the U.S. economy. Typically, the Federal Reserve raises interest rates to help lower prices during a time ...
The biggest difference: A fixed-rate mortgage carries the same interest rate for the life of the loan, while adjustable-rate mortgage’s interest changes at set intervals (after a fixed-rate ...
A resulting trust is an implied trust that comes into existence by operation of law, where property is transferred to someone who pays nothing for it; and then is implied to hold the property for the benefit of another person.