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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 .
Vesting Clause Article and Section Text Legislative Vesting Clause: Article I, Section 1: All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives.
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
The money from your employer match may be required to vest, potentially for years, before it becomes entirely yours.
Once a pension has vested, you should be entitled to keep those funds, even if you're fired. However, you aren't always entitled to all the money in your pension fund. In some cases, you might ...
Assignment [a] is a legal term used in the context of the laws of contract and of property. In both instances, assignment is the process whereby a person, the assignor, transfers rights or benefits to another, the assignee. [1] An assignment may not transfer a duty, burden or detriment without the express agreement of the assignee.
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A vested interest may be one of three types: A future interest is absolutely (or indefeasibly) vested if its beneficiary must (legally) eventually take possessory ownership. A future interest is vested subject to divestment if something could occur that would divest the remainder of an interest. For example, "From O to A for life, then to B ...