A vested remainder is the absolute right to receive title when a presently existing interest in real property ends. It is certain to transfer after the existing interest expires, and is not dependent on any conditions or other events occuring. A "vested remainder" is created by deed or by a decree of distribution of an estate given by will. A vested remainder is a present interest in property, to be enjoyed at a future date, in which the estate is invariably fixed to belong to a particular person, after the current estate has been terminated.
Vested remainders are distinguished from contingent remainders which only take effect upon the occurence or nonoccurence of a particular event or factual condition.
There are three types of vested remainders:
