vested interest - present right or title to something, which allows the holder to sell or give away the right or title, even if the right or title may not be enjoyed until a future date. For example, if Abel has a reversionary interest in a home that he has deeded to Baker as a life estate, Abel's interest is a vested interest. Abel may sell or otherwise alienate his reversionary interest in the property, even though he will not be able to possess the property until Baker dies. See, by contrast, contingent interest. See also alienation, life estate, and reversion.

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