Real Estate - Contingent Remainder Law and Legal Definition

A contingent remainder is an interest in real estate property, which will go to a person or entity only upon the existence of a certain set of circumstances at the time the title-holder dies. It is a future property ownership right which depends upon the fulfillment of specific conditions. For example, the interest may be contingent on the person surviving a close relative of the title-holder. If the specified conditions are not met, the remainder never takes effect. The future estate, otherwise valid, will not be void on the ground of the probability or improbability of the contingency upon which it is limited to take effect.