Subdivision 1. Common law remainders. When a future estate is dependent upon a precedent estate, it may be termed a remainder, and may be created and transferred by that name.
When a remainder on an estate for life or for years is not limited on a contingency defeating or avoiding such precedent estate, it shall be construed as intended to take effect only on the death of the first taker, or at the expiration, by lapse of time, of such term of years.
Subd. 2. Conditional limitations; shifting interests. A remainder may be limited on a contingency which, in case it should happen, will operate to abridge or determine the precedent estate; and every such remainder shall be construed a conditional limitation, and have the same effect as such limitation would have by law.
Subd. 3. Springing interests. Subject to the rules established in this chapter, a freehold estate, as well as a chattel real, may be created to commence at a future day; an estate for life may be created in a term of years, and a remainder limited thereon.
History: (8041, 8054, 8057, 8059) RL s 3200, 3213, 3216, 3218
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