Mel and Susan Carter are working with an estate planner for disposition of their property during life and at death. For their personal residence in Los Angeles, they wish to live in the residence for their life and then transfer the property to their two children, Ron T$.$ Carter and Diane L$.$ Carter, as remaindermen at the date of death of the latest surviving spouse. The interest in their residence is transferred as follows:

$"$To Mel Carter and Susan Carter for life, then to Ron T$.$ Carter and Diane L$.$ Carter."

What type of ownership interest will Mel and Susan have after this change in the title?

Remainder interest

Life estate

Fee simple absolute

Conditional estate