An interest in a trust (or under the terms of a will), where the beneficiary's possession and enjoyment of the trust assets is postponed by a prior interest in the same assets.

For example, Doreen dies and in her will leaves her husband, Alf, a life interest in Rose Cottage. The will provides that, on Alf's death, Rose Cottage is to pass to Doreen's son, Cedric, outright. Cedric has a remainder interest in Rose cottage - taking possession only when Alf dies.