What is Vested Interest?

Legal Definition
1. Possession, ownership right. See absolute interest. 2. Personal stake, expecting to gain underlying commitment to maintain or to influence an action.
Legal Definition
A future interest is vested when there is a person in being who would have a right, defeasible or indefeasible, to the immediate possession of the property, upon the ceasing of the intermedlate or precedent interest. Cavil Code Cal. ยง 694. See Allison v. Allison. 101 Va. 537, 44 S. E. 904, 63 Li. It. A. 920; Hawkins v. Bohling, 168 III. 214, 48 N. E. 94; Stewart v. Haruman, 56 N. H. 25, 22 Am. Rep. 408; Bunting v. Speek, 41 Kan. 424, 21 Pac. 288, 3 L. R. A. 690.
-- Black's Law Dictionary
Legal Definition
One wherein there is an immediate fixed right of present or future enjoyment. See 101 Va. 537, 63 L. R. A. 920, 44 S. E. 904.
-- Ballentine's Law Dictionary