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A tutorial on future interests in property, including the grantor's interest — reversion, possibility of reverter, and right of entry — and the grantee's future interests: vested remainders, contingent remainders, and executory interests.
Aug 21, 2017 · Explore the complexities of concurrent, overriding, and reversionary leases in real estate, clarifying common legal terminologies for better understanding and application.
A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum than he has (such as the owner of a fee simple granting a life estate or a leasehold estate).
Reversion and True Reversion are both legal terms used in property law to describe the return of property to its original owner after a specific event or condition has been met. However, the key difference between the two lies in the nature of the event triggering the return of the property.
1. Remainders and Reversions. “To A for life, remainder to B and his heirs.” “To A for life, remainder to B [an eighteen-year-old] and his heirs, if B shall have reached the age of 21.” The two grants above differ obviously in their wording. In both grants, it is a necessary condition to B’s interest becoming possessory that A’s life estate expire.
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Mar 15, 2018 · Although the Copyright Act 1956 abolished the reversionary right in respect of assignments and grants of exclusive licences made by authors on or after 1 June 1957, that Act and the 1988 Copyright, Designs and Patents Act have perpetuated the reversionary right in respect of assignments and exclusive licences made and entered into before that date.
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Nov 21, 2023 · There are three key types of reversionary interest: right of entry, possibility of reverter, and reversion. Life estates are an example of a reversion.