1. Vested and Contingent Interest
Sec. 19 & 21

2. Vested Interest
No time is
specified as to
when it is to
take effect
It is specified that
it shall take effect
immediately
It is to take effect
upon the
happening of an
event which must
happen

3. Explanation of Sec. 19
1. Postponement of enjoyment
2. Prior interest
3. Direction for the accumulation of income
4. Condition limitation

4. Nature of the Vested Interest
1. Present fixed interest
2. Transferable and heritable interest

5. CONTINGENT INTEREST
(Sec. 21)

6. Nature of Contingent Interest
1. Future possible interest
2. Not heritable
3. Transferable interest

7. Distinction between Vested Interest
and Contingent Interest
Vested Interest Contingent Interest
Nature of title
Transferee’s right in
property
Transferability
Attachment and sale in
execution of decree
Heritability