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Vesting
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.
WSJ Article Provides Advice About Vesting
In a recent article in the Wall Street Journal, Kelly Greene answers the question from a reader about whether her employer can keep a percentage of the matching contribution in her account because she is not fully vested...
Can you be terminated just prior to vesting in your benefits?
The Court held that the covenant of good faith and fair dealing is violated when an employer terminates an at-will employee without good cause and deprives the employee of a clearly identifiable future compensation reflective of the employee?s past services...
Property Division: Vesting Rights
Pensions, real estate may or may not be property because the supposed owner has no vested rights in the property. The following are some Indiana cases dealing with vesting of property...
CA Appeals Court Holds Approval of a Vesting Tentative Map Does Not Protect Developer Against New Land Use Regulations in a Local Coastal Plan
The California Coastal Act requires a coastal permit for development within the coastal zone. A coastal permit cannot be issued unless the development is consistent with the Local Coastal Plan...
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