vested interest

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 owner to the possession now or at a future period, is fixed and present; so that the right of ownership, to the extent of the estate, may be aliened. Allison v Allison, 101 Va 537, 44 SE 904. See vested estate; vested right.

Ballentine's law dictionary. . 1998.

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