Legal Definitions - executed remainder

Executed remainder is an old-fashioned term that means the same thing as vested remainder. A vested remainder is a type of property interest that guarantees a person will receive the property in the future.

For example, let's say that John owns a piece of land and wants to give it to his daughter, Sarah, but only after he passes away. John can create a vested remainder by specifying in his will that Sarah will receive the land when he dies. This means that Sarah has a guaranteed right to the land, even though she won't receive it until John dies.

Another example is if a couple buys a house and puts it in a trust for their children. The trust might specify that the children will receive the house when they turn 25 years old. This creates a vested remainder for the children, who know that they will eventually inherit the house.

These examples illustrate how a vested remainder works by guaranteeing that a person will receive property in the future, even if they don't receive it right away.