Question

Where, on a transfer of property, an interest therein is created in favour of a person to take effect only on the happening of a specified uncertain event, or if a specified uncertain event shall not happen, such person thereby acquires:

• A. A contingent interest in the property.
• B. An express interest in the property.
• C. A perfect interest in the property.
• D. An implied interest in the property.

Answer 1

The Correct Option is A

The correct option is (A):A contingent interest in the property.