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To give an immediate, fixed right of present or future enjoyment.

The term vest is significant in the law, because it means that a person has an absolute right to some present or future interest in something of value. When a right has vested, the person is legally entitled to what has been promised and may seek relief in court if the benefit is not given.

In U.S. Property Law a vested remainder is a future interest held by an identifiable person (the remainderman), which, upon the happening of a certain event, will become the remainderman's. When property is given to one person for life and, at the person's death, the property is to go to another living person, this second person has a vested remainder in the property.

A vested legacy is an inheritance given in such terms that there is a fixed, irrevocable right to its payment. For example, a legacy contained in a will that states that the inheritance shall not be paid until the person reaches the age of twenty-one is a vested legacy, because it is given unconditionally and absolutely and therefore vests an immediate interest in the person receiving the legacy. Only the enjoyment of the legacy is deferred or postponed.

In contemporary U.S. law the term vesting refers to the right that an employee acquires to various employer-contributed benefits, such as a Pension, after having been employed for a requisite number of years. The federal Employee Retirement Income Security Act (ERISA) of 1974 (29 U.S.C.A. § 1001 et seq.) governs the funding, vesting, administration, and termination of employee benefit plans. ERISA was enacted as a result of congressional dissatisfaction with private pension plans. Under some plans an employee's pension benefits did not vest before retirement or vested only after such a long period of time (as long as thirty years) that few employees ever became entitled to them. ERISA ensures that all pension benefits will vest within a reasonable time. Once pension benefits are vested, an employee has the right to them even if the employment relationship terminates before the employee retires.

In Constitutional Law vested rights are those that are so completely and definitely settled in a person that they are not subject to defeat or cancellation by the act of any other private person. Once a person can prove to a court the validity of the vested rights, the court will recognize and protect these rights so as to prevent injustice.


v. to give an absolute right to title or ownership, including real property and pension rights. (See: vested, vested remainder)


verb authorize, bestow upon, clothe, confer, empower, enable, endow, entrust, establish, furnish, give authority, give control, invest, place authority, place control, put in possession, sanction
Associated concepts: contingently vested, estate vested subject to being divested, indefeasibly vested, vested essate, vested future estate, vested gift, vested in possession, vested interest, vested legacy, vested property right, vested remainder, vested remainder subject to open, vested right, vesting of title
See also: admit, bestow, dedicate, empower



TO VEST, estates. To give an immediate fixed right of present or future enjoyment; an estate is vested in possession when there exists a right of present enjoyment; and an estate is vested in interest, when there is a present fixed right of future, enjoyment. Feame on Rem. 2; vide 2 Rop on Leg. 757; 8 Com. Dig. App. h.t.; 1 Vern. 323, n.; 10 Vin. Ab. 230; 1 Suppl. to Ves. jr. 200, 242, 315, 434; 2 Id. 157 5 Ves. 511.

References in periodicals archive ?
Austin T-Shirt Lab's grand opening event will be at the end of January, though the store is open for business.
Using the long embroidery floss tails, tie the finished pompoms to your length of T-shirt yarn, spacing them about 6 inches apart.
My son wrestled in middle and high school and collected a huge number of t-shirts.
Rob Noon, of Lloyds Bank, and former Welsh Commonwealth Games and Brit-|ish international marathon runner Bernie Plain reveal the 2014 Lloyds Bank Cardiff Half Marathon official race T-shirt
Jimmy Clausen, determined to remain unpopular even after college," Mandel said, including a link to a photo of the T-shirt.
TREND-LED TEES T-shirt wearers usually fall into two style camps: statement lovers and those who want a long-serving staple.
FAN POWER: Badge of Honour T-shirt in grey, S-XXL, pounds 18, modelled by Jessica RED ARMY: Keep chills out in this red scroll hoody, pounds 35 in S-XXL, worn by Jessica COME ON BORO: Seb Hines models a black foil crest T-shirt, S-XXL, pounds 18, and, top, Jessica Robinson in white Middlesbrough T-shirt, 8-16, pounds 18.
The limited edition T-shirt collection is a fusion of both, and an extension of the designers' personality and individuality.
Jo Bedu launched its second T-shirt competition entitled "Brand Attack", the winner will be announced on August 29 at 9:00 pm at JARA.
Blue print T-shirt, pounds 3, Primark; Pink stripe T-shirt, pounds 39, Reiss; Stylissimo T-shirt, pounds 30, All Saints; Multi-colour print T-shirt, pounds 25, French Connection; Mint print T-shirt, pounds 3, Primark; Slim jeans, pounds 35; pink shirt, pounds 25; blue skinny tie, pounds 10, Topman.