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LSDefine

Simple English definitions for legal terms

Reversion

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A quick definition of Reversion:

Reversion: When someone gives away their property but keeps the right to get it back in the future, it's called a reversion. This happens after the person who received the property has finished using it for a certain amount of time or after they pass away. It's different from a remainder, which is when someone else gets the property after the first person is done using it.

A more thorough explanation:

Definition: Reversion is a type of future interest that the grantor (the person who transfers ownership of a property) keeps for themselves. It comes into effect after the end of a fee tail estate, life estate, or term of years. It is different from remainders, which are future interests that are given to someone else.

Example: Let's say that John owns a piece of land and he wants to transfer ownership to his daughter, Sarah. However, he wants to make sure that he still has some control over the land after he gives it to her. So, he decides to give her a life estate, which means that she can use and enjoy the land for the rest of her life. But when she dies, the land will go back to John. This is an example of a reversion.

Another example: Mary owns a rental property and she wants to sell it to her son, Tom. However, she wants to make sure that if Tom ever decides to sell the property, it will go back to her instead of someone else. So, she decides to give him a term of years, which means that he can own and rent out the property for a certain number of years. But when the term is up, the property will revert back to Mary. This is another example of a reversion.

These examples illustrate how a reversion works. It is a way for the grantor to keep some control over the property even after they have transferred ownership to someone else. It can be useful for estate planning or for situations where the grantor wants to make sure that the property stays in the family.

reversible error | Reverter

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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