What distinguishes a vested remainder from a contingent remainder?

A vested remainder is characterized by its certain and unconditional right to receive an interest in property upon the termination of a prior estate. When nothing stands in the way of possession, it means that the person holding the vested remainder has a guaranteed future interest that will become possessory at a future date, typically upon the end of a preceding possessory estate. This lack of conditions or contingencies ensures that the right to inherit the property is secure.

In contrast, a contingent remainder is contingent upon the occurrence of a specific event or condition that must happen before the interest becomes possessory. This uncertainty is what distinguishes the contingent remainder from the vested remainder. Additionally, a contingent remainder can be created through various legal means, not exclusively through a will, which further differentiates it from a vested remainder.

The distinction hinges on the certainty of the interest: a vested remainder is guaranteed as opposed to a contingent remainder, which is dependent on future events. This understanding is crucial for navigating property law and determining the rights of parties involved in property interest transfers.