(1) If an instrument transfers an interest for life or years and a future interest to take effect on a stated contingency not defeating or avoiding the prior interest transferred, and the stated contingency occurs before the normal termination of the prior interest transferred, the future interest takes effect at the normal termination of the prior interest.
(2) Unless the instrument of transfer manifests a contrary intent, renunciation or release of an interest for life or years accelerates succeeding interests.