in this video we will discuss contingent
remainders. A contingent remainder is a type of future interest but this type of
future interest either involves an unidentified person or it’s subject to
some sort of condition. Let’s say a father gives some land to his son, Jimmy
for as long as Jimmy lives and then to Jimmy’s first child, provided he or she
is at least 21. So now Jimmy’s got the land and he’ll have it for as long as he
lives. And let’s say Jimmy doesn’t have any children.
Of course Jimmy can imagine that he’ll have a son Jimmy jr. but that son’s just
imaginary now. He’s not real yet. Jimmy could pass away and have no children. Or
let’s say Jimmy does have a child, Jimmy Jr., who’s three or four years old – well,
we still don’t know how old Jimmy or Jimmy Jr. will be when Jimmy passes away.
Will Jimmy jr. be 17 years old? 6 years old? 75 years old? We just don’t know.
Remember, Jimmy’s child only gets the land if he’s at least 21 years old. This
is a contingent future interest because we don’t know whether Jimmy will have a
child or whether that child will be at least 21 when Jimmy passes away. if you’d
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