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. § 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