Definition of "Vest"
Giving another an immediate benefit. Example are an employee in a real estate company receiving pension or health care benefits after five years of employment, and passing title to property. Once vesting has occurred a legal right exists to the recipient. One can have title without possession, such as when there is a life estate from Jack to Brian, but Brian only obtains possession upon Jack's demise.
Popular Real Estate Terms
A roof having two slopes on each side. The second slope is longer than the first part of the roof and extremely steep. ...
revising the terms of a loan such as when the borrower is experiencing severe financial difficulties. For example, a homeowner lost his job and seeks relief by requesting the lender ...
Economic principle determining the market prices of goods, services, and property. The principle states there is a pricing relationship between supply and demand for real property. Economic ...
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federal law protecting someone in active service from bank foreclosure of their property that was bought before entering the armed services. ...
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Substituting one party for another in an action giving that party full rights or claims. Foe example, an insurance company pays the insured for a fire loss caused to the home by a third ...
Process of the borrower giving the lender security to obtain the loan. ...
Nationwide group of independent real estate brokers who cooperate together and share information regarding clients who are seeking to relocate from one area of the country to another. The ...
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