Arizona Laws 33-227. Contingent remainder as conditional limitation
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A. A remainder may be limited on a contingency which, if it should happen, will operate to abridge or determine the precedent estate. Such a remainder shall be construed a conditional limitation and shall have effect as such.
Terms Used In Arizona Laws 33-227
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
B. No future estate, otherwise valid, shall be void on the ground of the probability or improbability of the contingency upon which it is limited to take effect.