Conditional Interest

English Legal System: Conditional Interest

In the context of the English law, A Dictionary of Law provides the following legal concept of Conditional Interest : An interest that is liable to be forfeited, on the occurrence of a specified event, at the instance of the person who created it; for example, when A conveys land to B in fee simple subject to a rentcharge and reserves a right of forfeiture for nonpayment. Under the Law of Property (Amendment) Act 1926 a conditional interest in land qualifies as a *fee simple absolute in possession and can therefore exist as a legal estate.

Compare contingent interest; determinable interest.