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Reversion (view source)

Revision as of 05:51, January 20, 2007

398 bytes added ,  05:51, January 20, 2007
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A reversion is a property interest retained by an owner when he conveys less than an absolute interest in the property. The owner or grantor retains a reversion when he holds a present or future interest in the property.

For example, a donation of a field to a town on the condition that it always be used for Little League creates a reversion in the donor in the event that specified use ceases.
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Anthony, Irenaeus, Siteadmin, apieditor, Bureaucrats, Check users, nsAm_Govt_101RO, nsAm_Govt_101RW, nsAm_Govt_101_ta, nsJudgesRO, nsJudgesRW, nsJudges_talkRO, nsJudges_talkRW, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, oversight, Administrators
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