Contingent Legacy

The term “contingent legacy” refers to a legacy that takes effect or is defeated upon the occurrence or nonoccurrence of a specified event.

“The courts consider a contingent legacy as one requiring the condition to be fulfilled before the legacy vests. However, a distinction is made between mere postponement of the time of payment and a requirement that a condition be met before a legacy vests. A legacy to be paid when the condition is met is a vested legacy as of the death of the testator.”  Haas v. Canton of Berne, 140 N.J. Eq. 240 (1947).

“A contingent legacy is a legacy made dependent upon some uncertain event.  It is a legacy which has not vested.”  Title Guarantee & Trust Co. v. Ward, 164 F. 459 (N.D. Cir. 1908)

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