{dfp-include} Legal Definitions of Vest, Vested Right

"Instead of getting married again, I'm going to find a woman I don't like and just give her a house." -Steven Seagal

VEST

To give an immediate fixed right of present or future enjoyment; an estate is vested in possession when there exists a right of present enjoyment; and an estate is vested in interest, when there is a present fixed right of future, enjoyment.

VESTED RIGHT

An absolute right. When a retirement plan is fully vested, the employee has an absolute right to the entire amount of money in the account.

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