reversion

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Reversion

Any future interest kept by a person who transfers property to another.

A reversion occurs when a property owner makes an effective transfer of property to another but retains some future right to the property. For example, if Sara transfers a piece of property to Shane for life, Shane has the use of the property for the rest of his life. Upon his death, the property reverts, or goes back, to Sara, or if Sara has died, it goes to her heirs. Shane's interest in the property, in this example, is a life estate. Sara's ownership interest during Shane's life, and her right or the right of her heirs to take back the property upon Shane's death, are called reversionary interests.

A reversion differs from a remainder because a reversion arises through the operation of law rather than by act of the parties. A remainder is a future interest that is created in some person other than the grantor or transferor, whereas a reversion creates a future interest in the grantor or his or her heirs. If Sara's transfer had been "to Shane for life, then to Lily," Lily's interest would be a remainder.

Cross-references

Estate.

reversion

n. in real property, the return to the grantor or his/her heirs of real property after all interests in the property given to others has terminated. Examples: George Generous deeded property to the local hospital district for "use for health facilities only," and the hospital is eventually torn down and the property is now vacant. The property reverts to George's descendants; George wills the property to his sister's children only, who later died without children. When the last grandchild dies the property reverts to George's descendants. Reversion is also called "reverter." (See: reverter)

reversion

(Act of returning), noun about-face, recidivism, regress, regression, relapse, retroaction, retrocession, retrogradation, retrogression, retroversion, return, reversal, reverse, reverting, throwback, turnabout, turnaround

reversion

(Remainder of an estate), noun future innerest, future possession, hereditas, remainder over, residue, right of future enjoyment, right of future possession, right of succession
Associated concepts: equitable reversion, life estate, partial reversion, reversionary interest, right of reversion
See also: continuation, decline, defeasance, devolution, expiration, heritage, lapse, nollo prosequi, recidivism, reconversion, recovery, recrudescence, relapse, remainder, restitution, resumption, resurgence, reversal

reversion

an interest in an estate that reverts to the grantor or his heirs at the end of a period, such as at the end of the life of a grantee; or an estate so reverting.

REVERSION, estates. The residue of an estate left in the grantor, to commence in possession after the determination of some particular estate granted out by him; it is also defined to be the return of land to the grantor, and his heirs, after the grant is over. Co. Litt. 142, b.
     2. The reversion arises by operation of law, and not by deed or will, and it is a vested interest or estate, and in this it differs from a remainder, which can never be limited unless by either deed or devise. 2 Bl. Comm. 175; Cruise, Dig. tit. 17; Plowd. 151; 4 Kent, Comm. 349; 19 Vin. Ab. 217; 4 Com. Dig. 27; 7 Com. Dig. 289: 1 Bro. Civil Law, 213 Wood's Inst. 151 2 Lill. Ab. 483. A reversion is said to be an incorporeal hereditament. Vide 4 Kent, Com. 354. See, generally, 1 Hill. Ab. c. 52, p. 418; 2 Bouv. Inst. n. 1850, et seq.

References in classic literature ?
said Athos, "who are going to be killed, in order that Monsieur de Bouillon may have his estate at Sedan restored to him, that the reversion of the admiralty may be given to the Duc de Beaufort, and that the coadjutor may be made a cardinal.
He wondered whether he could raise money on the reversion.
That she had been carried off her feet by the strength of the young giant when his great arms were about her in the distant African forest, and again today, in the Wisconsin woods, seemed to her only attributable to a temporary mental reversion to type on her part--to the psychological appeal of the primeval man to the primeval woman in her nature.
In another he would find organising forces stoutly at work, newly-painted notice boards warning off vagrants, the roads and still cultivated fields policed by armed men, the pestilence under control, even nursing going on, a store of food husbanded, the cattle and sheep well guarded, and a group of two or three justices, the village doctor or a farmer, dominating the whole place; a reversion, in fact, to the autonomous community of the fifteenth century.
Like many other of his traits and mannerisms this was the result of environment rather than heredity or reversion, and even though he was outwardly a man, the Englishman and the girl were both impressed with the naturalness of the act.
In the blood lust of his fury the creature had undergone a sudden reversion to type, which left him a wild beast, forgetful of the dagger that projected from his belt--thinking only of nature's weapons with which his brute prototype had battled.
He was really a reversion to an earlier type, and his place was with the Tree People rather than with us who were in the process of becoming men.
His will took no notice of my father or my mother; but he left to my sister (always supposed to be his favorite in the family) a most extraordin ary legacy of possible pin-money, in the shape of a contingent reversion to the sum of three thousand pounds, payable on the death of Lady Malkinshaw, provided I survived her.
An appeal will not lie," he thought, with an absurd reversion to professional slang, making the situation more horrible, as the fire of a cigar might light up a tomb.
I shall not live to see the complete regeneration of the savage hordes of the Eastern Hemisphere--that is a work which will require many generations, perhaps ages, so complete has been their reversion to savagery; but I know that the work has been started, and I am proud of the share in it which my generous countrymen have placed in my hands.
The whole capital which Nicholas found himself entitled to, either in possession, reversion, remainder, or expectancy, after paying his rent and settling with the broker from whom he had hired his poor furniture, did not exceed, by more than a few halfpence, the sum of twenty shillings.
In a vague and stupid sort of way Lord Greystoke felt, as he always felt upon such occasions, that he was experiencing a sensation somewhat akin to a reversion to a prehistoric type--that the blood of an ancient forbear was coursing hot through him, a hairy, half-naked forbear who had lived by the hunt.