Definition - What does Vest mean?

Vest is a state of having an interest that is immediate and ongoing. It is usually used in the sense of having a vested interest, to vest, or vested. Legally, when a person has a right over something they would be said to have vested their interest in it so the actual vest is the intangible interest a person has. This can be used broadly in a legal context and throughout all areas of law. It can be tangible or intangible.

Justipedia explains Vest

It is understood that in order to vest a state of legal ability to do so must be present. An example is when a person buys a property they can be said to have vested into the property. If a person gets married, they would be vested into the legal state of shared affairs. Often, employers provide stock options or retirement accounts that require the employee to be "fully vested" by first working for a specific number of years.

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