From The Collaborative International Dictionary of English v.0.48:

Vest \Vest\, v. t. [imp. & p. p. Vested; p. pr. & vb. n.
   Vesting.] [Cf. L. vestire, vestitum, OF. vestir, F.
   v[^e]tir. See Vest, n.]
   1. To clothe with, or as with, a vestment, or garment; to
      dress; to robe; to cover, surround, or encompass closely.
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            Came vested all in white, pure as her mind.
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            With ether vested, and a purple sky.  --Dryden.
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   2. To clothe with authority, power, or the like; to put in
      possession; to invest; to furnish; to endow; -- followed
      by with before the thing conferred; as, to vest a court
      with power to try cases of life and death.
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            Had I been vested with the monarch's power. --Prior.
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   3. To place or give into the possession or discretion of some
      person or authority; to commit to another; -- with in
      before the possessor; as, the power of life and death is
      vested in the king, or in the courts.
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            Empire and dominion was [were] vested in him.
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   4. To invest; to put; as, to vest money in goods, land, or
      houses. [R.]
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   5. (Law) To clothe with possession; as, to vest a person with
      an estate; also, to give a person an immediate fixed right
      of present or future enjoyment of; as, an estate is vested
      in possession. --Bouvier.
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From The Collaborative International Dictionary of English v.0.48:

Vested \Vest"ed\, a.
   1. Clothed; robed; wearing vestments. "The vested priest."
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   2. (Law) Not in a state of contingency or suspension; fixed;
      as, vested rights; vested interests.
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   Vested legacy (Law), a legacy the right to which commences
      in praesenti, and does not depend on a contingency; as, a
      legacy to one to be paid when he attains to twenty-one
      years of age is a vested legacy, and if the legatee dies
      before the testator, his representative shall receive it.

   Vested remainder (Law), an estate settled, to remain to a
      determined person, after the particular estate is spent.
      --Blackstone. --Kent.
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