Vested Legacy Law and Legal Definition
vested legacy refers to an indefeasible right to payment which is vested in a legatee. It is a legacy that is vested when the testator’s words make the bequest that conveys a transmissible interest whether present or future, to the legatee. Vested legacy is a legacy that is paid when the legatee reaches the age of 21. It is also a legacy that is given unconditionally and absolutely. Although the legacy is vested, the legatee’s enjoyment of it is deferred. In Bowman's Appeal, 34 Pa. 19 (Pa. 1859), it was held that where a vested legacy is given to a child or grandchild of the testator, payable at a future day, interest will be allowed thereon by way of maintenance.
