Section 554.13 - Future estates; classifications, definitions.
Revised Statutes of 1846 (EXCERPT)
Chapter 62. Of The Nature And Qualities Of Estates In Real And Personal Property, And The Alienation Thereof.
554.13 Future estates; classifications, definitions.
Sec. 13.
Future estates are either vested or contingent:
They are vested when there is a person in being who would have an immediate right to the possession of the lands, upon the ceasing of the intermediate or precedent estate.
They are contingent whilst the person to whom, or the event upon which they are limited to take effect remains uncertain.
History: R.S. 1846, Ch. 62 ;-- CL 1857, 2597 ;-- CL 1871, 4080 ;-- How. 5529 ;-- CL 1897, 8795 ;-- CL 1915, 11531 ;-- CL 1929, 12933 ;-- CL 1948, 554.13