What is the term used to describe the interest a remainderman has in a property?

The term used to describe the interest a remainderman has in a property is "Remainder Interest." In real estate, when a life estate is created, the property is owned by a life tenant for the duration of their life, after which the property will pass to the remainderman. The remainderman has an interest in the property that is contingent upon the life tenant’s death. This interest does not grant any rights to the property until the life estate ends, but it does represent a legally recognized future right to the property.

Understanding the concept of remainder interest is essential, as it outlines how property rights can be divided. While terms like "Ownership Interest" refer to the general concept of property rights and can apply to various scenarios, and "Life Estate" pertains to the rights of the life tenant, neither accurately captures the specific interest of a remainderman. Similarly, an "Easement" pertains to the right to use another person's property for a specific purpose and does not apply in this context. Hence, "Remainder Interest" is the precise term delineating the future interest held by the remainderman.