35. Legal contingent remainders.

35.     Legal contingent remainders.

Since 31 December 1925 legal remainders in land have taken effect as equitable interests, if previously valid as legal interests; the conversion of those remainders into equitable interests did not cause them to fail1. The applicability of the rule against perpetuities to legal contingent remainders will now seldom require consideration, but in the past it was the subject of much controversy2. In any case, a legal contingent remainder, where the particular estate was limited to a person or persons in being, might be valid whatever the contingency on which it depended, although it