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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Borrower's right to cancel, within three business days, a creditor contract in which his or her residence is used as collateral. This right does not apply to first mortgage loans. ...
Style of life emphasizing outdoor activities, amenities, and recreation. Example are campers and barbecues. It is usually on a short-term basis. ...
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Partnership agreement where the parties consent to purchase the interest of those leaving the partnership while those leaving similarly consent to sell their interests to agreement for a ...
To confirm, ratify, verify, and accept a transaction that can be canceled. ...
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