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
(1) Revising the selling price of real property to reflect what it would be worth if typical financing was available. (2) How much real property would be sold for if all cash was involved. ...
Divider made of plasterboard or plaster used to partition rooms. A room is created by the walls surrounding it. ...
Width of a stair. ...
Personal property or real property that are passed on to heirs upon one's death. ...
Person's sole ownership of real property. ...
Upper layer of ground. ...
Principle stating that the joint tenants must have equal rights to possession of the whole property. ...
The ratio between a structure's total floor area and the total land area of the land upon which it is constructed. The floor area ratio definition is the ratio of the total amount of usable ...
Decision rendered by a court of law. ...
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