Final answer:
The interest held by someone who will receive property after the termination of an estate is known as a remainder estate.
Step-by-step explanation:
If the property title is set to pass to someone other than the grantor upon termination of an estate, the interest held by the person who will receive the property is known as a remainder estate. This type of estate represents the future interest that will pass to the remainderman upon the end of the prior estate, such as after a life tenant's death in the case of a life estate. On the other hand, a life estate is the possession for the duration of someone's life, fee simple absolute signifies complete ownership without limitations, and leasehold is the right to occupy or use property for a certain period of time. If the property title is set to pass to someone other than the grantor upon termination of an estate, the interest held by the person who will receive the property is a remainder estate. A remainder estate is a type of future interest that takes effect when a life estate ends. In this case, the grantor has given the property to someone else, and upon the termination of the estate, that person will become the owner of the property.