A right or an interest in property "vests" when it is secured. This means that the beneficiary of the right or property interest is certain to receive a specific amount, either now or in the future.
trusts, inheritances & estates
vested
Having an absolute right or title to something, to be enjoyed either now or in the future. A vested right is unconditional; it is no longer dependent on any event even if it was in the past.
See Contingent (contrast).
vested remainder
Refers to a remainder with an ascertained taker and with no condition precedent.
See: Future Interest
widow
According to 17 USC § 101 a widow is a person whose spouse died during their marriage and has not since remarried. Also known as a surviving spouse.
[Last updated in March of 2022 by the Wex Definitions Team]
widow's election
See: elective share
[Last updated in September of 2021 by the Wex Definitions Team]
will
A will is a legal document that states a testator’s wishes and instructions for managing and distributing their estate after death. In contrast, intestate succession is passing the property of the decedent according to the State’s intestacy...
words of procreation
Words of procreation are a language in a will or deed that indicates a transfer of property to one person and that person's descendants. Typically, the words are used as "to A and the heirs of his body," where A is the person who inherits the...