Property Ownership
What is a 'remainder interest' in a Florida real estate transaction?
AThe unpaid balance on a mortgage after the down payment
BA future interest that becomes possessory after a life estate or other preceding estate ends✓ Correct
CThe seller's profit after deducting all costs
DThe portion of a lot not covered by a building
Explanation
A remainder interest is a future interest in real property that becomes possessory when a preceding limited estate (such as a life estate) ends naturally. For example, 'to Mary for life, then to John' — John has a remainder interest that vests when Mary dies.
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