possibility of reverter. A reversionary interest that is subject to a condition precedent; specif., a future interest retained by a grantor after conveying a fee simple determinable, so that the grantee’s estate terminates automatically and reverts to the grantor if the terminating event ever occurs. • In this type of interest, the grantor transfers an […]
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A reversionary interest that is subject to a condition precedent; specif., a future interest retained by a grantor after conveying a fee simple determinable, so that the grantee’s estate terminates automatically and reverts to the grantor if the terminating event ever occurs. • In this type of interest, the grantor transfers an estate whose maximum
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possibility of reverter 归复的不确定权益 在转让可终止的非限嗣继承地〔fee simple determinable〕后，由授权人保留的一种将来权益，故当特定事件发生时，受让人的地产权即自动终止，地产权归复于授权人。该词通常简作reverter。
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reverter guarantee. Real estate. A mortgage clause protecting the mortgagee against a loss occasioned by the occurrence of a terminating event under a possibility of reverter. See POSSIBILITY OF REVERTER. [Cases: Mortgages 211. C.J.S. Mortgages §§ 274–276.]
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power of termination. A future interest retained by a grantor after conveying a fee simple subject to a condition subsequent, so that the grantee’s estate terminates (upon breach of the condition) only if the grantor exercises the right to retake it. — Also termed right of entry; right of reentry; right of entry for breach
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reversion, n. 1. The interest that is left after subtracting what the transferor has parted with from what the transferor originally had; specif., a future interest in land arising by operation of law whenever an estate owner grants to another a particular estate, such as a life estate or a term of years, but does
Property. 1. A future interest arising in a third person — that is, someone other than the estate’s creator, its initial holder, or the heirs of either — who is intended to take after the natural termination of the preceding estate. • For example, if a grant is “to A for life, and then to
An estate that will automatically end and revert to the grantor if some specified event occurs (e.g., “to Albert and his heirs while the property is used for charitable purposes”); an estate in fee simple subject to a special limitation. • The future interest retained by the grantor is called a possibility of reverter. —
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