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Simple English definitions for legal terms

contingent remainder

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A quick definition of contingent remainder:

A contingent remainder is a type of future interest in property that is uncertain. It can happen in two ways: either the person who will own the property is unknown, or there is a condition that must be met before they can own it. For example, if someone says "I give my house to my children, but only if they finish college," that is a contingent remainder because it depends on whether or not the children finish college. Contingent remainders cannot take effect until after other people have owned the property first, and they must follow certain rules.

A more thorough explanation:

A contingent remainder is a type of future interest in real property that is uncertain in some way. It can come in two forms:

For example, if a grantor conveys property "to A for life, then to B's children," the remainder in B's children is contingent because it is uncertain how many children B will have. Another example is if a grantor conveys property "to A for life, then to B if B graduates from college." The remainder in B is contingent because it is uncertain whether B will graduate from college.

Contingent remainders are non-vested, which means that they are not yet capable of being possessed. They are also subject to the Rules Against Perpetuities, which limit how long a future interest can last. Contingent remainders become possessory only if certain conditions are met, such as the natural termination of a prior estate or the fulfillment of a condition precedent.

If a contingent remainder has a condition precedent to possession, it must transfer immediately, with no gap of time, upon the natural termination of a prior estate once the condition precedent is met. An alternative contingent remainder exists when the grant lists two possible takers depending on whether a condition is met.

Overall, contingent remainders are future interests that are uncertain in some way and can only become possessory under certain conditions.

contingent ownership | contingent trust

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17:34
does Cornell even have a WL or reserve is their equivalent
sweettea
17:40
Reserve is a WL. Columbia also calls their waitlist a reserve
18:00
gotcha thanks
MrThickRopes
18:22
ima crash out if i don't get decisions tmrw
18:22
What are you waiting on? I am mad curious
18:25
Peep da profile
18:25
Oh damn waiting 11/15 is brutal
18:25
yes
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Tomorrow for sure
18:26
Fo pm I can feel it
@ElJefe: Avgolemono
Anyone know about any other waves this week?
18:42
Does any1 think waves are imminent?
18:56
cant wait to think about waves in 2 yrs ;-;
c0bra1
19:17
is it still reasonable to expect a decision within the standard 8-12week timeline at this point or is it just "maybe something by end of april" atp
ive given up on trusting the process, I've resorted to witch craft bc this is so unpredictable
sweettea
19:24
Emailing my law school recommenders like yo I made it
19:26
@sweettea: Congratulations, u gon go far kid. Proud of your accomplishments!
Same. Did my seat deposit today.
sweettea
19:39
Good job dude we did it
sweettea
19:39
Thanks baby llama
19:43
I deposited something today too
19:43
In my pants hahahahaa
19:44
It was poo
19:53
@MrThickRopes: I hate when dat happenz
19:53
@DeadProbableGnome: Awesome! Congratz, next chapter inbound!
MrThickRopes
19:56
i luv it personally but it all up to personal preferences
20:06
dif strokes for dif folks ig blessup no cap
MrThickRopes
20:06
All my homies be shittin
hehe I get it, that's a poop joke
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