Hence, a right to future possession or enjoyment; succession.
A payment which is not to be received, or a benefit which does not begin, until the happening of some event, as the death of a living person.
A return towards some ancestral type or character; atavism.
The return of the unused portion of an appropriation to the fund from which the appropriation was made. In California State government, the undisbursed portion of an appropriation reverts two years after the last day of availability (normally June 30) for encumbrance. The Budget Act often provides for the reversion of unused portions of appropriations when such reversion is to be made prior to the statutory limit.
If the owner of a piece of freehold property leases it to someone else for a period, the freehold property is in reversion during the period of the lease. In other words, reversion is the owner's right to retake possession when the lease ends.
Legal repossession of land title rights and/or interests; such as vacated street right-of-way.
The remnant of an estate that the grantor (as opposed to a third party) holds after he or she has granted a limited estate such as a leasehold or life estate to another person and that will return or revert back to the grantor. (See also remainder.)
That part of the estate which remains after the determination of the particular estate and falls into the possession of the original grantor or representative.
Future interest in real property; it is the interest remaining in the grantor or his heirs after determination of a lesser estate granted by him, such as a leasehold estate.
The return, by operation of law, of property ownership rights to the original owner or that person's heirs after the expiration of an estate created by the owner's transfer of property to another person.
when an interest in real estate in fact is left to or returned to the grantor or a grantor's beneficiaries after a specific event has happened or at the end of a specific time period.For example, reversion may occur after the death of someone or after the payment of a specific amount.
Provision in conveyance by which, upon the happening of an event or contingency, title to the land will return to the grantor or the successor in interest in the land.
(law) an interest in an estate that reverts to the grantor (or his heirs) at the end of some period (e.g., the death of the grantee)
returning to a former state
a legal term in property law that means you are reserving the right to take your property back if an agreed condition is not met
Future interest in grantor that results after life estate terminates and no remainder interest was given.
A qualified plan (or trust) is prohibited from diverting corpus or income for purposes other than for the exclusive benefit of employees. However, this prohibition does not preclude the return of a contribution made by an employer if the contribution was made, for example, by reason of a mistake of fact or conditioned on the initial qualification of the plan or the deductibility of the contribution.
the process used by some states to recover property from a holder for reasons such as the failure to pay property taxes or to use rural land for agricultural purposes within a stipulated time. Such property may be allocated to new parties by the state. It is also used to describe a lessor’s interest in the land after the term of a lease has expired.
A term used when the title of real estate reverts back to a specified party upon the conclusion of a specified event (ususally death of one party)
the return of a leased property to the original owner after the lease has expired
A provision in a conveyance that the land will return to the grantor upon the happening of an event or contingency. Compare, FEE SIMPLE.
the right of a lessor to possess leased property upon the termination of a lease.
Future possession of any property after some particular event
The return of property to the landlord on the expiry of a lease.
The return of rights in real estate to the grantor, such as the return of the full use of real estate to the lessor at the expiration of a lease; the estate returned or due to be returned; in mortgage-equity analyses, synonymous with proceeds of resale at the end of the ownership projection period.
The return of a property to the original grantor upon the occurrence of an event specified in the grant.
(1) The return of an estate or interest to a grantor or lessor after the grant or lease has expired. (2) The interest retained by a fee simple owner of real estate after granting a terminable estate or interest in such property to another. For example, when a fee simple owner gives a lease to a tenant, the interest which the owner has left is known as the reversion. (3) A provision accompanying restrictive covenants in a deed, which provision stipulates that in the event the restrictions are violated, title to the property shall revert to the grantor.
The right to future possession or enjoyment by the person creating the preceding estate, or his heirs
The right a grantor keeps when he or she grants someone an estate that will or may end in the future. Examples: The interest remaining with a landlord after he or she grants a lease, or the interest an owner of land has after he or she grants someone a life estate. Any future interest (estate) left in the grantor. The residue of an estate left in the grantor after the termination of a lesser estate. Back to the Top
"What a grantor still retains of an estate." Dukelow
The right of future possession and use by the grantor of a life estate. (See life estate)
A stipulation that allows for a former owner of property to repossess it if certain conditions occur. A reversion in a lease would be that the property reverts to the landlord after the lease has expired.
A right to future possession retained by an owner at the time of a transfer of an owner's interest in real property.
this is the interest that the landlord (or "reversioner") retains once he has granted a lease. In valuation terms, this amounts to the present day value of the landlord's right to have possession of the property back once the lease term has expired. Where there is an intermediate landlord - such as a headlessee between the freeholder and the occupational underlessees - the reversion to the headlessee is usually a nominal period of just a few days (to the expiry of his own headleasehold interest held from the freeholder) and so has little value in that respect. The valuable interest is the freeholder's and depends upon the proximity of the reversion - a property becoming vacant in five years' time is obviously considerably more valuable to the reversioner than one where this is much more remote.
A right to succeed to property or a position / The repossession of property after a lapse of time or the happening of an event.
The right to future possession or enjoyment by the person or his heirs, creating the preceding estate.
A clause in a transfer of title that returns the property to the grantor upon specified events or occurrences happening
1. An interest or estate in which an individual has a fixed interest in the future such as the remaining part left after obligations are paid which would revert for distribution. 2. The right of a lessor, upon termination of a lease, to possess leased property.
A right, given to his heirs, of the future possession or enjoyment of an owner's property.
A future interest left in a transferror or his (or her) heirs. A reservation in a real property conveyance that the property reverts back to the original owner upon the occurence of a certain event. For example, Jim gives Bob a bulding using the words "to Bob for life". Upon the death of Bob, the property reverts back to Jim or to Jim's heirs. Differs from a remainder in that a remainder takes effect by an act of the parties involved. A reversion takes effect by operation of the law. Nor is a reversion a "left-over" as is a remainder. Rather, it reverts the entire property.
The right to future possession or enjoyment by the person who created the present estate, or by his heirs.
The residue of an estate left in the grantor to commence in possession after the determination of some particular estate granted out by him. The return of land to the grantor and his heirs after the grant is over.
A future estate in real property created by operation of law when a grantor conveys a lesser estate than he has. The residue left in the grantor is called a reversion which commences in possession in the future upon the end of a particular estate granted or devised, whether it be freehold or less-than-freehold.
the cash proceeds (cash flow) received from the sale of an investment property, involving the return of capital to the investor at the end of the investment period.
In software development (and by extension in content editing evironments, especially wikis, that make use of the software development process of revision control), reversion or reverting is the abandonment of one or more recent changes in favor of a return to a previous version of the material at hand (typically software source code in the context of application development; HTML, CSS or script code in the context of web development; or content and formatting thereof in the context of wikis).