Vested Remainder Legal Meaning and Definition
Here is a simplified definition of the legal term Vested Remainder.
Vested Remainder (n.): This is when someone is promised to get something, like a house or land, after a certain event happens. It's like when a trust (a big promise someone makes about their stuff) says that once an event happens (like someone dying), then another person gets the benefits. For example, if a man makes a trust and says after his mom dies, his wife gets the house, the wife would be the "vested remainder."