We know little about Vlad II's early life, but he must have been born prior to 1395 because historians agree that by that date he was sent to Hungary as a hostage to King Sigismund. Vlad spent some time there: Sigismund claimed that Vlad had been educated at his court.
When Vlad's father died (and the succession was fought over by various sons, both legitimate and otherwise), Vlad stayed in Hungary and other parts of the Holy Roman Empire. Sigismund treated him well, inducting him into the chivalric Order of the Dragon (the inspiration for Vlad and his son to add Dracul "Dragon" as an epithet). He was even asked to be the official receiver when the Emperor of Constantinople, John VIII Paleologos, visited to ask for help against the Ottomans in 1423.
Vlad hoped some day to return to Wallachia as its leader, but while waiting for that day he settled in Transylvania. While there he lived in Sighișoara, in a house where there is now a plaque commemorating his time. The plaque claims that his son Vlad II was born there. Vlad the elder also had coins minted there. Sighișoara is a UNESCO World Heritage Site because it is the model of a small medieval fortified town.
Vlad ruled Wallachia twice. The first time was 1436-1442 after his brother Alexander I. In 1442, after being accused of treachery by the Ottomans (long story), he was summoned by the Ottoman governor of Bulgaria to show loyalty. He left his eldest son Mircea in charge. Vlad was captured by the Ottomans. released later, he returned to Wallachia and became voivode again from 1443-1447, after which he was dethroned by the governor of Hungary who put his nephew Vladislav in place. Vlad II was executed.
Sigismund of Hungary had created the Order of the Dragon ostensibly to fight the Ottoman Empire. Let's see how that worked out for him next time.