Property
Remainder
Definition
A remainder is a future interest created in a third party that becomes possessory upon the natural expiration of a prior estate (such as a life estate or term of years). Remainders are either vested (created in an ascertained person with no condition precedent) or contingent (subject to a condition precedent or created in an unascertained person). Vested remainders are freely transferable and not subject to the Rule Against Perpetuities, while contingent remainders may be subject to it.
Example
O conveys Blackacre "to A for life, then to B." B holds a vested remainder in fee simple. B will take possession when A dies.