cross remainder
- 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
- In the real estate agreement, a cross remainder was set up to protect the investments of multiple parties.
- The will specified a cross remainder, ensuring that each person's share would go to the other remaining recipients upon their death.
- The concept of cross remainder was invoked to entitle the remaining partner to ownership of the shares upon their partner's departure.
Provide Feedback
