What Is Contingent Remainder

contingent remainder. n. an interest, particularly in real estate property, which will go to a person or entity only upon a certain set of circumstances existing at the time the title-holder dies. Examples of those potential circumstances include surviving one’s brother or still operating the family farm next door.

What is a contingent remainder beneficiary?

A contingent beneficiary – sometimes called a remainder beneficiary, a remainderman, or a secondary beneficiary, is an individual or entity who is scheduled to receive an estate or trust distribution, after the death of the Trustor, but only if the primary beneficiary has passed away, or is unable or unwilling to …

What does remainder mean in real estate?

A remainder is a future interest in land. It is the right to own and possess the land after the fixed interest of current holder expires. Thus, a remainder can follow a life estate or a term of years. It is created by the use of the phrase “then to” or similar language.