what is vested and contingent interest

VESTED INTEREST CONTINGENT INTEREST
It does not depend on the fulfilment of the condition it creates an immediate right to enjoy it It depends on the fulfilment of certain condition if the condition is not fulfilled the interest will fail
When the transferee dies it passes to the legal heir It doesn,t pass to the legal heirs
It includes the property which is transferable and heritable. It includes the property which is transferable
Right to enjoy the property effects immediately. No present right mere promise for giving such right and promise may be nullified by the failure of condition.
Section 23 of transfer of property defines vested interest. Section 22 of transfer of property defines contingent interest

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