58-503. Same (grant or devise to person for life and then to some other). When real or personal property is granted or devised to one person for life, and then to some other person, or persons, whether named individually or as one or more of a class of which the individuals can be ascertained by the time the fee is possessed, the instrument by which such property is so transferred shall be construed as creating in the person first named an estate during the person's lifetime only, and a remainder in fee simple in the person or persons last named.

History: L. 1939, ch. 181, § 3; July 1.