cross remainder

Definition of "cross remainder"
  1. A type of remainder involving two or more people, where the share of one person will pass to the others if the first person's interest is terminated
How to use "cross remainder" in a sentence
  1. In the real estate agreement, a cross remainder was set up to protect the investments of multiple parties.
  2. The will specified a cross remainder, ensuring that each person's share would go to the other remaining recipients upon their death.
  3. The concept of cross remainder was invoked to entitle the remaining partner to ownership of the shares upon their partner's departure.

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