A vested remainder is an estate which, by the terms of the original limitation or conveyance, is limited or conveyed unconditionally. If a remainder is not vested, it is contingent.
A contingent remainder is defined by Fearne to be "a remainder limited so S-9 to depend on an event or condition which may never happen or be performed, co; which may not happen or be performed till after the determination of the preceding estate." Accordingly it is the limitation of the remainder which is conditional, and there is no remainder limited or given until the condition happens or is performed. The uncertainty of the remainder becoming an estate in possession is no part of the notion of a contingent remainder ; for this kind of uncertainty may exist, as already observed, in the case of vested remainders.
Fearnc has made four classes of contingent remainders, to some one of which he considers that all kinds of contingent remainders may be reduced, but he adds that "several cases which fall literally under one or other of the two last of those four descriptions, are nevertheless ranked among vested estates." The first class ia, "where the remainder depends entirely on a con tingent determination of the preceding estate itself ; " or, as it may be explained, where a remainder is limited to take effect only on the happening of a specified contingent event which is to determine the preceding estate, and is not to take effect if the preceding estate deter mines in any other way. An example usually given is the following : A makes a feoffmcnt to the use of B till C returns from Rome, and after Cs return, then to D in fee. In this case B has an estate which will determine either upon as return from Rome or by his own death ; but the remainder is limited to D only upon the happening of a specified event which may never happen ; and if B's estate determine by his death, or by forfeiture, which is possible, no estate is limited to D. There is then no limitation to D, except conditionally, and his estate is therefore contingent.
The second class is, "where some uncertain event, unconnected with and collateral to the determination of the preceding estate, is by the nature of the limitation to precede the remainder." This class is easily
distinguished from the first, by the circumstance that the uncertain event upon which the remainder is limited, is entirely independent of the manner in which the preceding estate may or must determine. The following is an example : If a grant is made to A for life, remainder to B for life, and if 13 die before A, remainder to C for life, the un certain event of B's dying before A is quite independent of the deter mination of A's estate, but the limitation of C's estate depends on this uncertain event happening.
n both these classes of remainders, the event on which the remainder is to take effect is absolutely uncertain ; in the two following classes, the events on which the remainders are limited are events which cer tainly must happen, and the contingency arises from the uncertainty of the time when they will happen.
The third class is, where a remainder is limited to take effect upon an event, which, though it certainly must happen some time or other, yet may not happen till after the determination of the partienlar estate." The following is an example : A grant is made to J. S. for life, and after the death of J. D. the lands to remain to another in fee. Though it is certain that J. D. must die, this event, upon which the limitation in fee is to take effect, may not happen till after the deter mination of the life estate of J. S.
The fourth class is, "where a remainder is limited to a person not ascertained, or not in being at the time when such limitation is made." The following is an example : A grant is made to A for life, remainder to the right heirs of J. S. Now as J. S. can have no heir till he is dead, and as he may not die till after the determination of the par ticular estate, such remainder is contingent. If an estate is limited to two persons for life, with remainder in fee to the survivor, the remainder is contingent, because it is uncertain which will be the survivor.