1. C.J.S. Estates §§ 2–5, 8, 15–21, 116–128, 137, 243.]
“[U]nfortunately, the word ‘vested’ is used in two senses. Firstly, an interest may be vested in possession, when there is a right to present enjoyment, e.g. when I own and occupy Blackacre. But an interest may be vested, even where it does not carry a right to immediate possession, if it does confer a fixed right of taking possession in the future.” George Whitecross Paton, A Textbook of Jurisprudence 305 (G.W. Paton & David P. Derham eds., 4th ed. 1972).
“A future interest is vested if it meets two requirements: first, that there be no condition precedent to the interest’s becoming a present estate other than the natural expiration of those estates that are prior to it in possession; and second, that it be theoretically possible to identify who would get the right to possession if the interest should become a present estate at any time.” Thomas F. Bergin & Paul G. Haskell, Preface to Estates in Land and Future Interests 66–67 (2d ed. 1984).
vested in interest. Consummated in a way that will result in future possession and use. • Reversions, vested remainders, and any other future use or executory devise that does not depend on an uncertain period or event are all said to be vested in interest. [Cases: Wills 628–638. C.J.S. Wills §§ 1320–1379, 1551.]
vested in possession. Consummated in a way that has resulted in present enjoyment.
