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Remainder Interest Upon the death or occurrence of a previously designated specific event of the life estate holder, the remainder interest holder ("remainder man") will hold full title in fee simple. An owner of real property may designate several individuals as remainder men who would hold ownership in common by will or agreement. The remainder man can generally sell his remainder interest in the property during the life estate holder's tenancy. Fee Simple Interest The owner(s) who hold(s) a fee simple title to the property has no restrictions or limitations on that ownership. The owner(s) may sell or transfer the ownership interest without time conditions imposed by others. Dower rights A type of life estate interest once granted to a widow in her husband's real property. If the a/b has a dower interest in real property it is probably life estate only. If questionable, consult with county attorney. Property agreement A pledge, or security of a particular property, for the payment of a debt or the performance of some other obligation within a specified time. On real property usually called mortgage, land contract, deed of trust, or promissory note. On personal property known as, chattel mortgages. A. Non-Countable Real Property Exclude the following when determining countable resources: 1. The Home site - equity of the home site used as the a/b principal place of residence is not counted. An a/b can have only one home site exclusion. a. The home site is any property in which the a/b or financially responsible person has an ownership interest and which is used as his principal place of residence. b. The home site may be either real or personal property, fixed or mobile, and located on land or water (i.e. motor home, houseboat). NOTE: If the a/b requests institutional services, see MA-2242, Home Equity Value & Eligibility For Institutional Services. c. Do not count the value of the home site if one of the following is true: (1) It is the a/b’s (or financially responsible person’s) principal place of residence. (2) The a/b (or financially responsible person) is not currently living in the home, but his legal spouse or his dependent relative lives there, regardless of whether the spouse or dependent relative lived there 30