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Simple English definitions for legal terms
Reverter
Read a random definition: loser-pays rule
A quick definition of Reverter:
A reverter is a legal term that refers to the transfer of property back to the original owner or their heirs when certain conditions are not met. For example, if a piece of land is given to a city on the condition that it is used as a park, but the city decides to build a shopping mall instead, the land would revert back to the original owner or their heirs.
A more thorough explanation:
Definition: Reverter refers to the right of a grantor or their heirs to regain ownership of property after a specific condition or time period has passed.
For example, if a grantor conveys land to a grantee with the condition that the land must be used for a specific purpose, such as a park, and the grantee fails to use the land for that purpose, the grantor or their heirs may have the right of reverter and regain ownership of the land.
Another example would be if a grantor conveys land to a grantee for a specific time period, such as 99 years, and at the end of that time period, ownership of the land reverts back to the grantor or their heirs.
These examples illustrate how reverter is a legal mechanism that allows a grantor or their heirs to regain ownership of property if certain conditions or time periods are not met.