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It is also possible to give a person, A, a life interest in a property, with the remainder to go to another person or persons, B. If the beneficiary of the remainder cannot yet be known, then the remainder is said not to have vested, and the remainder is said to be contingent.
An indefeasibly vested remainder is certain to become possessory in the future, and cannot be divested. [4] For example A conveys to "B for life, then to C and C 's heirs." C has an indefeasibly vested remainder, certain to become possessory upon termination of B 's life estate (when B dies). C or C 's heirs will clearly be entitled to ...
A contingent remainder is created when a remainder cannot fully vest at the time of granting. This normally occurs in two situations: This normally occurs in two situations: when the property can't vest because the beneficiary is unknown (for example, if the beneficiary is a class subject to open), or
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The rule converted the contingent remainder in B's heirs into a vested remainder in B. The rule's effect ended there. After that, the doctrine of merger operated on the two successive freehold estates placed in the same purchaser (B's life estate and B's remainder in fee simple) and converted them into a single fee simple absolute in B.
A contingent interest is an interest which is uncertain, either as to the person who will enjoy it in possession or as to the event on which it will arise. 57 Am J1st Wills § 1217. [1] A future interest is contingent where the person to whom or the event upon which it is limited to take effect in possession or become a vested estate is uncertain.
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
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