vested estate

vested estate
An absolute, unconditional, and indefeasible interest. 57 Am J1st Wills § 1230. An estate which is not contingent or expectant; an estate carrying a fixed right of present or future enjoyment. 28 Am J2d Est § 6. An estate which gives a certain and fixed right of present or future enjoyment; that is, an interest clothed with a present legal and existing right of alienation. Allison v Allison, 101 Va 537, 44 SE 904. An estate is vested in possession when there exists a right of present enjoyment, and vested in interest when there is a present right of future enjoyment. Re Kohrs, 122 Mont 145, 199 P2d 856, 5 ALR2d 1046; Carroll v Newark, 108 NJL 323, 158 A 458, 79 ALR 509. An estate is said to be vested in interest, when there is a present fixed right in someone of future enjoyment of it; it is not vested, but is contingent, when either the person who is to enjoy it, or the event upon which the estate is to arise is uncertain. See Johnston's Estate, 185 Pa 179, 39 A 879.

Ballentine's law dictionary. . 1998.

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  • vested estate — see estate 1 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. vested estate n …   Law dictionary

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  • vested interest — A fixed right to the enjoyment of property in an ascertained person which is subject to no condition other than the termination of a precedent estate. Stevens v Carroll, 64 Or 417, 129 P 1044. An interest when vested, whether it entitles the… …   Ballentine's law dictionary

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