DIFFERENCE BETWEEN VESTED & CONTINGENT INTEREST
Meaning of Vested Interest: – The interest in a property which is created in favor of the person without specifying, the time or a specific connection is known as Vested Interest in the property. In this, the interest in the property is vested in favor of the transferee, even though the right to enjoy the property is delayed. The person having the vested interest does not get the possession of that property but has the expectancy to receive it upon happening of a specified certain event………….
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