Remainderman Law and Legal Definition
Remainderman is a term used in property law to refer a person who inherits or is entitled to inherit property upon the termination of the estate of the former owner. A remainderman holds an interest in the remainder and will become its possessor at some future time. For example, if the owner of property gives a piece of his real property to "to A for life, and then to B," B is entitled to a future interest, called a remainder, and B is termed a remainderman. B’s interest becomes possessory only on A’s death.
The remainderman may exercise the right to hold and use the property in the trust only after the trust has been completely dissolved. S/he will inherit the property upon the death or termination of the former owner’s estate. The property may also be inherited when there is a specific notation of the same in the trust.
