Missouri Laws 442.490 – Remainder limited to heirs of a person having a life estate — how disposed of
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Terms Used In Missouri Laws 442.490
- Fee simple: Absolute title to property with no limitations or restrictions regarding the person who may inherit it.
- Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
- person: may extend and be applied to bodies politic and corporate, and to partnerships and other unincorporated associations. See Missouri Laws 1.020
- 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.
Where a remainder shall be limited to the heirs, or heirs of the body, of a person to whom a life estate in the same premises shall be given, the persons who, on the termination of the life estate, shall be the heir or heirs of the body of such tenant for life shall be entitled to take as purchasers in fee simple, by virtue of the remainder so limited in them.