remainder

remainder definition - business

remainder

Interest in an estate that is postponed until the termination of a prior estate. For example, a couple transfers assets to a trust with the stipulation that they receive trust income during their lifetime. At their deaths, the remainder is transferred to a person or organization named by the grantors.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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