Florida Broker Practice Exam

Who holds the interest in a remainder estate while the life estate is in effect?

1. Lessee

2. Landlord

3. Remainderman

4. Tenant

The correct answer is: Remainderman

In a real estate context, a remainder estate refers to an interest that a person holds in property, which becomes effective after the termination of a life estate. The individual who holds this future interest is known as the remainderman. While the life estate is in effect — which means that another party has the right to use and occupy the property for their lifetime — the remainderman does not have current possession but retains the right to take possession once the life estate ends. This structure allows for a clear distinction of interests in the property. The life tenant enjoys the use and benefits from the property during their lifetime, while the remainderman holds a future interest that ensures they will receive full ownership upon the death of the life tenant. Understanding this relationship is crucial for grasping property rights and interests within real estate law.