Define: Executed Remainder

An executed remainder refers to a type of future interest in property that takes effect immediately upon the expiration of a prior interest in the same property.

An executed remainder differs from a contingent remainder in that it becomes effective immediately upon the expiration of the prior interest, while a contingent remainder is dependent on the occurrence of a specific condition.

Yes, an executed remainder can be created in any type of property, including real estate, personal property, or any other form of assets.

To create an executed remainder, there must be a valid conveyance or transfer of the property, and the remainder interest must be vested in a specific individual or entity.

Once an executed remainder is created, it generally cannot be revoked or terminated unless there is a specific provision in the legal instrument that allows for such revocation or termination.

Yes, an executed remainder can be sold or transferred to another party, just like any other property interest, as long as there are no legal restrictions or limitations on such transfers.

If the holder of the prior interest dies before the expiration of their interest, the executed remainder would still take effect upon the expiration of the prior interest, as long as the remainder interest is vested and there are no other legal impediments.

Yes, an executed remainder can be inherited by the heirs of the holder of the prior interest, as long as the remainder interest is vested and there are no specific provisions in the legal instrument that restrict inheritance.

Yes, an executed remainder can be subject to conditions or limitations, as long as they are valid and enforceable under the applicable laws and regulations.

If the holder of the executed remainder dies before the expiration of their interest, the remainder interest would pass to their heirs or beneficiaries according to their estate plan or the applicable laws of inheritance.