16:06
Any war criminals here applying? looking for some advice/perspective from a fellow nazi/baby killer.
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Simple English definitions for legal terms
accelerated remainder
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A quick definition of accelerated remainder:
Accelerated remainder is a type of future interest in property that arises when the initial holder of the property dies or fails to fulfill certain conditions. It is given to a third person who is intended to take ownership of the property after the natural termination of the preceding estate. This type of remainder is called "accelerated" because it passes to the remainderman immediately, instead of waiting for the natural termination of the preceding estate. It is different from other types of remainders, such as vested remainder and contingent remainder, which have different conditions and requirements.A more thorough explanation:
An accelerated remainder is a type of future interest in real property that arises in a third person who is intended to take after the natural termination of the preceding estate. It occurs when the gift to the preceding beneficiary fails, and the remainder passes to the remainderman. For example, if a grant is “to A for life, and then to B,” but A dies before B, B's future interest becomes an accelerated remainder.
Accelerated remainder is also known as remainder estate or estate in remainder. It is different from other types of remainders, such as vested remainder, contingent remainder, and cross-remainder, which have their own specific characteristics and conditions.
Overall, an accelerated remainder is a way to ensure that the property passes to a designated person after the initial beneficiary's death or failure to fulfill the conditions of the grant.
accelerated-reentry theory | Acceptable Identification of Goods and Services Manual