11:20
I am not a llama, and I am an adcommie @ The University of American Samoa Law (go LandCrabies)
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LSDefine
Simple English definitions for legal terms
over
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A quick definition of over:
Term: OVER
Definition: When someone owns something, they might decide to give it to someone else after they die or after a certain amount of time has passed. This is called a property interest. If the person who receives the property interest only gets it after the first person dies or after a certain amount of time has passed, it is called an "over" interest. For example, if someone gives their house to their child, but only after their spouse dies, that is a limitation over.
A more thorough explanation:
Definition: Over is an adjective used to describe a property interest that is intended to take effect after the failure or termination of a prior estate. It is preceded by some other possessory interest, such as a limitation over or a gift over.
Example 1: A father leaves his house to his son for his lifetime, with the remainder to his grandson. In this case, the grandson has an over interest in the property, as his possession of the property is intended to take effect after the death of his father.
Example 2: A woman leaves her car to her sister for as long as she needs it, with the remainder to her nephew. In this case, the nephew has an over interest in the car, as his possession of the car is intended to take effect after the sister no longer needs it.
These examples illustrate how an over interest in a property is dependent on the prior estate. The over interest only takes effect after the prior estate has ended or failed. This means that the person with the over interest does not have immediate possession of the property, but rather a future interest that will only come into effect at a later time.