Which of the following defines a form of future interest in real property known as a remainder?
A)It is a right of possession that returns to the grantor after the expiration of a limited or contingent estate.
B)It is a right of possession that returns to a third party on the expiration of a limited or contingent estate.
C)It is a form of concurrent possession of a multiple-dwelling building in which a corporation owns the building,and the residents own shares in the corporation.
D)It is a form of concurrent possession that includes the right of survivorship.

Question

Quizplus · Accepted Answer

A remainder is a future interest in real property that returns possession to a third party (not the grantor) on the expiration of a limited or contingent estate, such as a life estate. Therefore, option B is correct. Option A describes a reversion, option C describes a cooperative form of ownership, and option D describes joint tenancy with right of survivorship, which is a type of concurrent ownership but not a remainder.

Which of the Following Defines a Form of Future Interest