Answer:
Remainderman.
Explanation:
In this scenario, Mary deeds her property to her sister for 15 years, in the form of a life estate. In addition, Mary also specifies that her sister's children will receive ownership of the property after the 15 years is up. Mary's sister's children are considered a remainderman.
In real estate, a remainderman can be defined as an individual who legally is entitled to inherit or even inherits a property upon the termination of the life estate of a former owner. It is a property law term which is typically used in real estate.
Additionally, life estate can be defined as an arrangement in which an individual's property ownership and rights to the property lasts only for the period he or she was alive, and then it is subsequently transferred back to the original owner (Mary) or to a third party (her sister's children).
