North Dakota Code 47-04-21 – Remainder limited on estate for life or years – When effective
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When a remainder on an estate for life or for years is not limited on a contingency defeating or avoiding such precedent estate, it shall be deemed intended to take effect only on the death of the first taker or the expiration by lapse of time of such term of years.
Terms Used In North Dakota Code 47-04-21
- 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.