What is the purpose of doctrine of worthier title?
A doctrine in real property law creating a presumption that when a grantor conveys a future interest to the grantor’s own heirs, the grantor actually intended to keep the interest in himself or herself. May be overcome with sufficient evidence of a contrary intent.
Can you convey a remainder interest?
A remainder can either be vested or contingent. A vested remainder is one where the grantee is an ascertainable person and the remainder is not subject to a condition precedent. In other words, the property will definitely be conveyed to the grantee, or the grantee’s estate, if the grantee dies before the conveyance.
Can a life estate be contingent?
Contingent remainder For example, if we assume that B is alive, and O conveys “to A for life, then to the heirs of B…”, then the remainder is contingent because the heirs of B cannot be ascertained until B dies.
Who holds the future interest known as a remainder?
remainderman
remainder, in Anglo-American law, a future interest held by one person in the property of another, which, upon the happening of a certain event, will become his own. The holder of this interest is known in legal terms as a remainderman.
What is rule of convenience?
The rule of convenience, then, is simply the general’ rule that the maximum membership of a class will be de- termined at the time of the first principal distribution.
What is doctrine of Cypress in law?
(see-pray doctrine) from French, meaning “as close as possible.” When a gift is made by will or trust (usually for charitable or educational purposes), and the named recipient of the gift does not exist, has dissolved, or no longer conducts the activity for which the gift is made, then the estate or trustee must make …
Can a remainderman sell the property?
Sale of the Property A remainderman may sell his interest in the property, but the buyer would take the property subject to the rights of life tenant. If the life tenant and the remainderman both agree and sign transfer documents, the property can be sold before the life tenant dies.
Is a remainderman a beneficiary?
A remainderman is considered the beneficiary of a life estate and stands to inherit any remaining property after the life tenant’s death.
How do I terminate a life estate deed?
The life tenant may terminate the life estate while the said person is still living by forming and entering another deed to the same estate that precisely ends the deed. A deed ending a life estate has typically the remainderman named on the first life estate deed as the beneficiary of the mentioned estate.
Are remainders transferable?
Although it was held that a contingent remainder could not be transferred inter vivos, nevertheless, if the contingent remainder- man attempted to alienate and the remainder subsequently vested in his lifetime, the remainder under certain circumstances passed by way of estoppel to the alienee.
What are the rights of a remainderman?
The remainderman is the person who inherits property after the termination of a life estate. A remainderman can exercise their right to use and hold property in a trust, but first, the trust must be dissolved. The life tenant can sell inherited property with the remainderman’s consent.