Contingent Interest
/kənˈtɪndʒənt ˈɪntərɪst/
Definitions
- (n.) A future interest in property or an estate that will only vest if a specified condition occurs or fails to occur.
She held a contingent interest in the estate, dependent on her surviving her father.
- (n.) An interest in a claim or benefit that arises only upon the happening of an uncertain event or condition.
His contingent interest in the insurance policy was triggered by the accident.
Forms
- contingent interests
Related terms
See also
Commentary
Draft contingent interest provisions clearly to specify conditions precedent and avoid ambiguity in vesting triggers.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.