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
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Device that cuts off an electric circuit when the current becomes to strong. ...
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An individual, educated, trained, and licensed in the principles of designing structures, and rendering drawings, specifications, bidding requirements. ...
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