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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Secondary demand created from a primary agent or facility. ...
Term indicating a resemblance or analogous to a legal classification. For example, a quasi corporation, quasi contract, quasi possession, quasi offense. ...
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