Arizona Laws 33-234. Time when remainder on life estate or term of years takes effect
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When a remainder on an estate for life or on an estate for years is not limited upon a contingency defeating or avoiding the precedent estate, it shall take effect only on the death of the first taker or the expiration of the term of years.
Terms Used In Arizona Laws 33-234
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.