Reversion
This is the current revision of Reversion as edited by DavidB4-bot (talk | contribs) at 20:39, June 23, 2016. This URL is a permanent link to this version of this page.
A reversion is a property interest retained by an owner when he conveys less than an absolute interest in the property. A reversion is established automatically by law based on a condition of use or termination of an interest by someone else.
For example, a donation of a field to a town so long as it is used for Little League creates a reversion by operation of law if the specified use ceases.
Reversions are not subject to the Rule Against Perpetuities because they are vested interests.