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contingent interest

n. an interest in real property which, according to the deed (or a will or trust), a party will receive only if a certain event occurs or certain circumstances happen. Examples: surviving a person who had a life estate (the right to use the property for his/her life), or having children at the time such a life estate ends.

See also: contingent  contingent remainder  future interest 

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The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications