"Remainders are either vested or contingent. Vested remainders, or remainders executed, are those by which a present interest passes to the party, though to be enjoyed in futuro, and by which the estate is invariably fixed to remain to a determinate person after the particular estate is spent. As if A, be tenant for years, remainder to B in fee: hereby B's remainder is vested, which nothing can defeat or set aside.1 The person entitled to a vested remainder has an immediate fixed right of future enjoyment, that is, an estate in presenti, though it is only to take effect in possession and permanency of the profits at a future period. And such an estate may be transferred, aliened, and charged, much in the same manner as an estate in possession.2

"A remainder is contingent when it is limited to take effect on an event or condition, which may not happen or be performed, or which may not happen or be performed till after the determination of the preceding particular estate; in which case such remainder never can take effect.3 It is not, however, the uncertainty of ever taking effect in possession, that makes a remainder contingent, for to that every remainder for life, or in tail, expectant on an estate for life, is and must be liable; as the remainder-man may die, or die without issue before the death of the tenant for life. The present capacity of taking effect in possession, if the possession were to become vacant before the estate limited in remainder determines, universally distinguishes a vested remainder from one that is contingent." 4

1 2 Bl. Com., 169.

2 2 Cro. Dig., 260, 261.

3 Fearn. Cont. Rem., 3.