Define: Contingent Remainder

Contingent Remainder
Contingent Remainder
Quick Summary of Contingent Remainder

A contingent remainder is a legal term used in property law to describe an interest in property that may or may not vest based on the occurrence of a particular event or condition. Unlike a vested remainder, which is certain to take effect, a contingent remainder is subject to uncertainty because it depends on an uncertain future event. Until the condition is satisfied, the individual or entity entitled to the contingent remainder does not have a present right to possess or enjoy the property. If the condition is never met, the contingent remainder may fail, and the property interest may revert back to the grantor or pass to another beneficiary as specified by the terms of the conveyance.

What is the dictionary definition of Contingent Remainder?
Dictionary Definition of Contingent Remainder
n. an interest, particularly in real estate property, which will go to a person or entity only upon a certain set of circumstances existing at the time the title-holder dies. Examples of those potential circumstances include surviving one's brother or still operating the family farm next door.
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This glossary post was last updated: 29th March, 2024.

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