Which person is entitled to an estate after the prior estate has expired?

Study for the Cannon Trust School Level I Exam. Learn with flashcards and multiple-choice questions, each with detailed hints and explanations. Prepare confidently for your exam and gain certification!

Multiple Choice

Which person is entitled to an estate after the prior estate has expired?

Explanation:
The main idea is understanding future interests in real property. When a grant creates a present estate plus a future interest, the person who will take possession after the current estate ends is the remainderman. For example, if land is given to someone for life, and then to another person, that second person holds a remainder and will gain property when the life tenant dies. The other terms describe different ways someone can receive property: an heir inherits by law when there’s no will, a legatee receives a legacy under a will, and a devisee receives real property under a will. So, the one entitled to take after the prior estate expires is the remainderman.

The main idea is understanding future interests in real property. When a grant creates a present estate plus a future interest, the person who will take possession after the current estate ends is the remainderman. For example, if land is given to someone for life, and then to another person, that second person holds a remainder and will gain property when the life tenant dies. The other terms describe different ways someone can receive property: an heir inherits by law when there’s no will, a legatee receives a legacy under a will, and a devisee receives real property under a will. So, the one entitled to take after the prior estate expires is the remainderman.

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