Asked by Ouita Weeden-Dawson on Jun 03, 2024
Verified
Martha conveyed her lakefront property to her daughter, Ellen, for life and then to Ellen's children, but if Ellen had no children, to Mark. Mark has a vested remainder.
Vested Remainder
A future interest in property that is certain to occur, either after a stated period passes or upon the occurrence of a specified event.
Conveyed
The act of transferring ownership or interest in property from one person to another through legal means.
Lakefront Property
Real estate located directly adjacent to a lake, often highly valued for its views, recreational opportunities, and aesthetic appeal.
- Recognize the limitations and legal responsibilities associated with life estates and remainder interests.
Verified Answer
TA
Tanaijah AustinJun 07, 2024
Final Answer :
False
Explanation :
Mark has a contingent remainder because his interest is conditional upon Ellen not having any children.
Learning Objectives
- Recognize the limitations and legal responsibilities associated with life estates and remainder interests.