vesting

Hello,

Despite any contrary provision of this paragraph, no amendment, revocation or release of the amendment power described
in this paragraph shall: (...) grant to any of the Prohibited Parties a power of appointment over the income or principal of any trust hereunder, or make any of the Prohibited Parties a permissible appointee of a power of appointment over the income or principal of any trust hereunder, or (6) extend (A) the time of termination of any trust or (B) the , absolute ownership or power of alienation of an interest in any trust property.

The context: restatement of living trust.
Can you explain me the meaning of "vesting" in this context? Can we just omit it here and say "extend the absolute ownership or power..."?

Thanks in advance.

maayani said:

Can we just omit it here and say "extend the absolute ownership or power..."?

This probably isn't wise if you or anybody else may be held accountable in a court of law for any mistakes that you make in understanding, rewriting or translating this language.

Although I can't vouch for its reliability, here is definition for vesting from Wikipedia:

In law, vesting is the point in time when the rights and interests arising from legal ownership of a property is acquired by some person. Vesting creates an immediately secured right of present or future deployment.

The passage in question comprises three possibilities:
... or (B) the vesting .... of an interest in any trust property,
... or (B) the ... absolute ownership of an interest in any trust property,
... or (B) the ... power of alienation of an interest in any trust property.
In legal documents one frequently finds expressions that seem redundant or seem to overlap. Trying to edit and "simplify" such expressions is rather hazardous. You might unintentionally impair the intended all-encompassing comprehensiveness of the clause. (I intended to agree with owlman5 in post#2.)

(Vesting occurs when a person indefeasibly acquires a legal right.)

I recall this definition I once read when studying law: “vest” means “cease to be contingent”.
I think that, in the context of trusts, it usually means that there is no longer any chance of anybody else acquiring (as beneficial owner) the property held in trust.

When something "vests", it means that the holder acquires unconditional ownership of it. In a business context, company executives are often awarded company shares that have a specified "vesting period" (say, three years), meaning that they are awarded the shares now but do not have unconditional ownership of them until 3 years have elapsed (for example, they can't sell or otherwise dispose of them). Obviously, the shares can also "vest" immediately. The idea is that the ownership of something becomes absolute, or fully consolidated, or unconditional.