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..