vested right

natural right, privilege which does not need proof

For a vested interest in the nature of supporting a particular outcome for reasons of self-interest, see Vested interest. For the garment, see Vest.In law, vesting is to give an immediately secured right of present or future enjoyment. 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 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 to a privilege or a right. For example, one may cross someone else’s property regularly and unrestrictedly for several years, and that person’s right to an easement becomes vested. The original owner still retains the possession, but can no longer prevent the other party from crossing.
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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.
   

This entry contains material from Bouvier's Legal Dictionary, a work published in the 1850's.