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Vesting. In law, vesting is the point in time when the rights and interests arising from legal ownership of a property are acquired by some person. Vesting creates an immediately secured right of present or future deployment. 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 ...
e. The rule against perpetuities is a legal rule in common law that prevents people from using legal instruments (usually a deed or a will) to exert control over the ownership of private property for a time long beyond the lives of people living at the time the instrument was written. Specifically, the rule forbids a person from creating future ...
Vesting Clauses. In United States constitutional law, the Vesting Clauses are three provisions in the United States Constitution which vest legislative power in Congress, executive power in the President, and judicial power in the federal courts. [how?] President Andrew Jackson interpreted these clauses as expressly creating a separation of ...
v. t. e. In property law of the United Kingdom and the United States and other common law countries, a remainder is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. [ 1]
e. In property law and real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of the property. Future interests are created on the formation of a defeasible estate; that is, an estate with a condition or event triggering transfer of possessory ownership.
In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. A "fee" is a vested, inheritable, present possessory interest in land. A "fee simple" is real property held without limit of time (i.e., permanently) under common law, whereas the highest possible form of ownership is a "fee simple absolute ...
v. t. e. The Rule in Shelley's Case is a rule of law that may apply to certain future interests in real property and trusts created in common law jurisdictions. [ 1]: 181 It was applied as early as 1366 in The Provost of Beverly's Case[ 1]: 182 [ 2] but in its present form is derived from Shelley's Case (1581), [ 3] in which counsel stated the ...
Vested interest (communication theory), a communication theory that seeks to explain how influences affect behavior; Vesting, a term used in law and finance to describe a right to possess an asset, in the present or at some point in the future