Editing Vesting (section)

{{Short description|When a person gains legal rights arising from ownership of a property}}
{{for|the garment|Vest}}

In [[law]], '''vesting''' is the point in time when the rights and interests arising from legal [[ownership]] of a [[property]] are acquired by some [[Legal person|person]]. Vesting creates an immediately secured right of present or future deployment.  One has a '''vested right''' to an [[asset]] that cannot be taken away by any third party, even though one may not yet possess the asset. When the right, interest, or title to the present or future possession of a [[Estate (law)|legal estate]] can be transferred to any other party, it is termed a '''vested interest'''.

The concept can arise in any number of contexts, but the most common are [[inheritance]] law and [[retirement plan]] law. In real estate, '''to vest''' is to create an [[Entitlement (fair division)|entitlement]] to a privilege or a right. For example, one may cross someone else's property regularly and unrestrictedly for several years, and one's right to an [[easement]] becomes vested. The original owner still retains the possession, but can no longer prevent the other party from crossing.