Property Ownership
What is a 'remainder interest' in Rhode Island real property?
AThe remaining equity after a mortgage is paid
BA future interest in property that takes effect automatically after a prior estate (such as a life estate) ends✓ Correct
CThe portion of a property not covered by insurance
DThe value of improvements after depreciation
Explanation
A remainder interest is a future interest in property that takes effect automatically when a preceding estate (typically a life estate) ends. The remainderman receives full ownership upon the life tenant's death.
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