What describes a future interest in real property that may take effect after another estate?

A remainder interest is a type of future interest in real property that comes into play after a prior estate has ended. This can typically occur after a life estate, which is an interest that lasts for the lifetime of a specific individual. When that individual passes away or the life estate is otherwise terminated, the property will then "pass" to the holder of the remainder interest. This ensures that the holder of the remainder has a future claim to the property once the preceding interest concludes.

Understanding the nature of remainder interest involves recognizing its role in estate planning and property transfer. It often serves as a method for individuals to establish how their property will be allocated upon a specified condition, such as the death of a life tenant. This is distinct from other interests, such as a reversion interest (which reverts back to the original grantor) or a life estate, which only lasts as long as the individual is alive and does not convey a future right.