A contingent remainder is a subtype of a remainder, or a future interest in the grantee. Contingent remainders can come in two forms: a remainder is created in an unknown person or a remainder that has a condition precedent to possession. It...
wills
contingent trust
Contingent trust is a trust that can only be created should certain conditions be met as stated in a person’s will. To set up a contingent trust, a person states in their will the specific conditions they wish to be met in order for the trust...
contingent will
A contingent will is a will that takes effect only when a specific condition occurs. To determine whether a will is “contingent” one must look at whether the happening of the contingency is a condition precedent for the will to operate or if...
contutor
A contutor is a court appointed (i.e. by court order) or testamentary joint guardian of a ward. A ward is a person who cannot properly take care of themselves because of their age or legal incompetence. A person is legally incompetent when he...
convey
To convey is to make a transfer of a property interest to another individual by either sale or gift. This transaction is known as a conveyance.
The standard way to convey a property interest is through a deed. The party who...
conveyance
A conveyance is the transfer and assignment of any property right or interest from one individual or entity (the conveyor) to another (the conveyee). This is usually accomplished through a written instrument - most often a deed - that...
conveyee
A conveyee is a person or entity to whom property is conveyed. See also conveyance.
[Last updated in June of 2021 by the Wex Definitions Team]
coparcenary
Coparcenary refers to a type of property ownership where multiple people inherit the same property, and each person owns an undivided, transferable interest in the property. The term coparcenary has mostly been replaced with tenancy in common...
corporate trustee
Corporate trustees are departments at banks or other investment firms hired to build and manage a trust. People hire corporate trustees for their professional experience in trust matters that a family member or friend may not have. Corporate...
corpus
Corpus is a Latin word for "body" which can have several meanings, including referring to the body of the prisoner (as in habeas corpus) in the context of criminal law.
In the context of trust law corpus means the property...