vested interest

vested interest
vested interest see interest 1

Merriam-Webster’s Dictionary of Law. . 1996.

vested interest
index birthright, claim (right), equity (share of ownership), prescription (claim of title), right (entitlement), title (right)

Burton's Legal Thesaurus. . 2006

vested interest
An interest that is recognized as belonging to someone who has the right to give it away; a personal stake in some matter.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

vested interest
England, Wales
A beneficiary of a trust has a vested interest if he does not have to meet any conditions for his interest to take effect. The interest may be:
• Vested in possession, if it is a "present right to present enjoyment", such as an immediate right to income.
• Vested in interest, if it is a "present right to future enjoyment", such as a right to capital which is ready to take effect when another beneficiary's interest ends.
For example, Brian creates a trust to pay income to his daughter, Beatrice, for life and then to hold the capital for Beatrice's children on her death. Beatrice's interest is vested in possession, and her children's interests are vested in interest. If a child dies before Beatrice, his share of capital passes to his estate.
If a beneficiary has to meet a condition (such as surviving to a certain age, or surviving another beneficiary) he has a contingent interest, not a vested interest. When he meets the condition, his interest vests.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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