Gerald conveyed to his granddaughter,Erin the right to the family farm after her grandmother dies.This is called a:
A) possibility of a reverter.
B) reversionary interest.
C) vested remainder.
D) contingent remainder.

Question

Quizplus · Accepted Answer

This is a vested remainder because the right has been conveyed to Erin and will take effect immediately upon the death of her grandmother. A possibility of a reverter would involve a condition being met or not met, such as the property being used for a certain purpose. A reversionary interest would involve the property reverting back to the original owner or their heirs after a certain event. A contingent remainder would involve a condition needing to be met before the right takes effect.

Gerald Conveyed to His Granddaughter,Erin the Right to the Family