Indiana Code 32-17-2-4. Contingent remainder
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Terms Used In Indiana Code 32-17-2-4
- 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.
Sec. 4. A remainder may be limited on a contingency. If the contingency occurs, the contingency abridges or determines the precedent estate.
[Pre-2002 Recodification Citation: 32-1-2-35.]
As added by P.L.2-2002, SEC.2.