part of an estate in land that is left upon the termination of the immediately preceding estate (often a life estate or estate for a term of years) and that does not amount to a reversion to the original grantor or his heirs.
remaining interest in a trust or estate after expenses and after prior beneficiaries have been satisfied.
merchandise that remains unsold at its original price due to lack of demand; also called overstock. The remainder is usually then sold at a lower price. Calendars sold months after the year has begun would be considered remainder merchandise and thus sold at a substantial discount.
an estate that takes effect after the termination of a prior estate, such as a life estate.
Example: At the death of her husband, Polly Rowen inherits a life estate in their home. The remainder is devised to their son, Paul Rowen. When Polly dies, Paul will gain title to the house. Paul is the remainderman.
