North Dakota Code 47-04-10 – Remainder defined
Current as of: 2023 | Check for updates
|
Other versions
When a future estate, other than a reversion, is dependent on a precedent estate, it may be called a remainder and may be created and transferred by that name.
Terms Used In North Dakota Code 47-04-10
- Dependent: A person dependent for support upon another.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.