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Loan and Mortgage Terms Glossary |
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Vest:
(1) to confer the right of immediate or future possession and use of property. (2) a designation of ownership or possession of property. For example: a title is said to vest in john doakes. (3) a designation of the endowment of rights, power or authority. For example: the authority to regulate the thrift industry is vested by congress in the office of thrift supervision.
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