554.13 Future estates; classifications, definitions. Sec. 13. Future estates are either vested or contingent: They are vested when there is a person in being who would have an immediate right to the possession of the lands, upon the ceasing of the intermediate or precedent estate. They are contingent whilst the person to whom, or the event upon which they are limited to take effect remains uncertain. History: R.S. 1846, Ch. 62 ;-- CL 1857, 2597 ;-- CL 1871, 4080 ;-- How. 5529 ;-- CL 1897, 8795 ;-- CL 1915, 11531 ;-- CL 1929, 12933 ;-- CL 1948, 554.13
Michigan Legal Code