Martha conveyed her lakefront property to her daughter, Ellen, for life and then to Ellen's children, but if Ellen had no children, to Mark. Mark has a vested remainder.

Vested Remainder

A future interest in property that is certain to occur, either after a stated period passes or upon the occurrence of a specified event.

Conveyed

The act of transferring ownership or interest in property from one person to another through legal means.

Lakefront Property

Real estate located directly adjacent to a lake, often highly valued for its views, recreational opportunities, and aesthetic appeal.