Legal Definitions - contingent

Definition: Contingent means that something may or may not happen in the future, depending on whether a certain condition is met. This term is often used in contracts where an event will only happen if a specific condition is fulfilled. The opposite of contingent is vested, which means that something is definite and unconditional.

• Contingent ownership: A person may have contingent ownership of a property, which means they can only enjoy ownership if a certain condition is met. For example, if a person inherits a house but can only take ownership if they get married within a year.
• Contingent legacy: A person may leave a contingent legacy in their will, which means the inheritance can only be received if a certain condition is met. For example, if a person leaves money to their grandchild but only if the grandchild graduates from college.
• Contingent fee: An attorney may work on a contingent fee basis, which means they only get paid if they win the case or achieve a specific result. For example, an attorney may only get paid if they win a lawsuit for their client.

These examples illustrate how contingent means that something is dependent on a specific condition being met. In each case, the outcome is uncertain until the condition is fulfilled. This uncertainty is what makes something contingent rather than vested.