Reversion: Difference between revisions

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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 have terminated. Examples: a) George 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. b) 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".
n.) The returning of an esttate to the grantor or his heirs, by operation of law, after the grant has terminated; hence, the residue of an estate left in the proprietor or owner thereof, to take effect in possession, by operation of law, after the termination of a limited or less estate carved out of it and conveyed by him.

Latest revision as of 08:20, 30 May 2024

n.) The returning of an esttate to the grantor or his heirs, by operation of law, after the grant has terminated; hence, the residue of an estate left in the proprietor or owner thereof, to take effect in possession, by operation of law, after the termination of a limited or less estate carved out of it and conveyed by him.

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