Definition - What does Vested Ownership mean?
Vested ownership is a type of ownership in which the owner of the item or property in question has complete and full ownership of it. In the context of the law, a person who has vested ownership of a thing has the full legal rights to it. In other words, it belongs exclusively to him or her.
Justipedia explains Vested Ownership
Vested ownership is an alternative to conditional ownership. With conditional ownership, the owner does not possess full and indisputable ownership. However, if certain conditions are met, he or she could get full ownership. For example, if two people own a property and if one of them dies, then the other could potentially gain vested ownership. It would depend on how the contract between the two owners was set up. Vested ownership can apply to a number of different types of properties or items.