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wait and see n: a doctrine in property law that postpones determining the question of validity of a future interest that has not yet vested (as a contingent remainder) until circumstances make clear whether or not the interest will vest within a time limit compare rule against perpetuities NOTE: A minority of states have adopted the wait and see doctrine.
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.