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
One who acts as a witness and fives written testimony under oath. ...
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Square footage of space a parcel of land has. ...
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Degree of construction of residential property measured in number of units or dollar value. ...
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