contingent interest

In law, a contingent interest is a future right to property that depends on an uncertain event occurring. This means the interest will only come into effect if a specific, unpredictable event happens.12

For example, a property might be granted to one person for their lifetime, with the condition that it then goes to another person only if that second person reaches a certain age by the time the first person dies. If that age is not reached, the interest in the property is not guaranteed. This contrasts with a vested interest, where the right to the property is certain and already belongs to someone, either now or in the future.134