Question: John has a future interest in a property. This property was never owned by him, any of his ancestors or currently living relations. It is

John has a future interest in a property. This property was never owned by him, any of his ancestors or currently living relations. It is certain
that he will receive this interest in the future. Which best describes John's interest in the property?
Vested remainder
Vested reversion
Contingent reversion
Contingent remainder
John has a future interest in a property. This property was

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Q:

The diameter of the methyl radical is about 308 pm. What is the maximum rate constant in the expression d [CzH6J/dt= k [CH3]2 for second order recombination of radicals at room temperature? 10 per...

Q:

Question 1: Which item would NOT be considered a fixture? A. A built-in fireplace B. A grandfather clock C. A chandelier D. Wall-to-wall carpeting Question 2: The primary difference between freehold...

Q:

John has a future interest in a property this property was never owned by him any of his ancestors or current living relations it is certain that he will receive this interest in the future which...

Q:

Can you write Investment policy statement using this format Return objectives Risk tolerance Ability Willingness Tax Time Horizon Legal and Regulatory Environment Unique Circumstances The Unlikely...

Q:

Complete the federal and California tax returns for the Kaisers. John and Ruth Kaiser, ages 46 and 47, are husband and wife and reside at 2168 Eagle Court, Rocklin, CA 95677. John is a computer...

Q:

Tutorial No. 5 Capital Gains and Losses (Starting the week beginning Monday 28 August 2017) Q 1 Income vs Capital - Why is the distinction important to individuals? Jeremiah and Jaini were walking...

Q:

Prepare 2013 gift tax returns (Form 709) for both of the Polks. A 2513 election to split gifts is made. The Polks have made no taxable gifts in prior years. Relevant Social Security numbers are...

Q:

Calculate these numbers for 2010 Annual Report Net Income Preferred Dividends Average Common shares outstanding Stock price per share Earnings per share Gross profit Net Sales Average total assets...

Q:

Prepare a 2013 gift tax return (Form 709) for Natalie (Social Security number 123-45-6787). Natalie made no taxable gifts in prior years Hint: A correct submission for this assignment will include...

Q:

Prepare a 2013 gift tax return (Form 709) for Natalie (Social Security number 123-45-6787). Natalie made no taxable gifts in prior years Hint: A correct submission for this assignment will include...

Q:

I need to answer the questions around 5-6 pages. 1. Why is there a need for separate system for governmental accounting and reporting? 2. Why can't we use the same standards applicable for private...

Q:

A certain electronic circuit is connected to a 110-V ac line. The root-mean-square value of the current drawn is 2 A, with a phase angle of 55. (a) Find the true power drawn by the circuit. (b)...

Q:

A survey of the number of phone calls made by a sample of 16 Verizon subscribers last week revealed the following information. Develop a stem-and-leaf chart. How many calls did a typical subscriber...

Q:

Which of the following need not be disclosed in a schedule accompanying the statement of cash flows as an investing and financing activity not affecting cash? a . dividend distributed in capital...

Q:

In the equation h=kJ,k is the slope which is also called as A. quantity B. constant C. variable of variation