Vested Gift Law and Legal Definition
A vested gift refers to an absolute gift. Generally, a vested gift is free from contingencies. Although a vested gift is unconditional, its use or enjoyment might not occur until sometime in the future. Hence, a vested gift can be made for the purpose of present or future usage.
In Osherow v. Porras (In re Porras), 312 B.R. 81 (Bankr. W.D. Tex. 2004), it was held that a vested gift becomes divested if any condition is attached for the usage of gift..