remainder

Property/Trust LawLegal glossary term

Legal Definition

In a legal context, 'remainder' refers to the portion of an estate or property that is left over after the primary assets have been accounted for, often referring to the residual interest in a legal title. It signifies what remains after specific interests or claims are satisfied.

Plain-English Translation

Imagine you have a piece of land, and some people have already claimed their share. The 'remainder' is what is left over—the leftover part that still belongs to someone else according to the rules.

Context in Contracts

It matters because it defines what is left over in a legal document, such as a deed or contract, determining the final allocation of assets or rights.

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01

The residual interest in a trust fund after the primary beneficiaries are paid out.

02

The remainder of a property described in a deed that has been partitioned.

Document context

How remainder shows up in legal documents

What is it?

The portion of an estate or property that remains after specific interests or claims have been satisfied or accounted for, often referring to a residual interest in a legal title or asset.

Why does it matter?

It matters because it defines what is left over in a legal document, such as a deed or contract, determining the final allocation of assets or rights.

When does it matter?

It usually appears when discussing the disposition of property, estate planning, trust structures, or the residual interests within a legal agreement.

Where is it usually seen?

It is commonly seen in real estate deeds, trusts, partition actions, wills, and legal settlements where assets are being allocated.

Who is affected?

The parties involved in the legal transaction, such as the grantor, the trustee, or the claimant, are affected by the remainder.

How does it work?

In practice, it is calculated by subtracting the specific portions of an asset from the total estate to determine what is left over for a specific purpose or beneficiary.

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Wikipedia

Remainder

In mathematics, the remainder is the amount "left over" after performing some computation. In arithmetic, the remainder is the integer "left over" after dividing one integer by another to produce an integer quotient (integer division). In algebra of...

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Disclaimer: We do not provide legal advice. We translate legal language into plain English and help you prepare for a conversation with a lawyer.