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Simple English definitions for legal terms

contingent interest

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A quick definition of contingent interest:

A contingent interest is when someone may only receive something if a certain condition happens first. For example, if someone leaves a house to their friend only if the friend still lives in the same town, then the friend has a contingent interest in the house. This is different from a future interest, which is when someone will receive something in the future but the person or event is uncertain.

A more thorough explanation:

A contingent interest is a type of interest that a person may only receive if a specific condition is met. This condition is called a "condition precedent."

For example, let's say that John wants to leave his house to his daughter, but only if she graduates from college. In this case, the daughter's ownership of the house is contingent on her graduation from college. If she doesn't graduate, she won't receive the house.

Another example of a contingent interest is when a person leaves money to a charity, but only if the charity is still in existence at the time of the person's death. If the charity has closed down, the money will go to someone else.

It's important to note that a contingent interest is different from a future interest. A future interest is when a person will receive something at a later time, but there is no condition attached to it.

Overall, a contingent interest is a way for people to ensure that their assets are distributed in a specific way, but only if certain conditions are met.

contingent fee | contingent ownership

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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