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LSDefine

Simple English definitions for legal terms

reverter guarantee

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A quick definition of reverter guarantee:

A reverter guarantee is a clause in a mortgage that protects the lender from losing money if a certain event happens that would cause the property to revert back to the original owner. This event is called a possibility of reverter, which is when the owner of the property has a future interest in the property that will automatically take effect if a specific condition is met. This interest is often called a reverter and is attached to a special limitation that benefits the original owner.

A more thorough explanation:

A reverter guarantee is a clause in a mortgage that protects the lender from losing money if a terminating event occurs under a possibility of reverter. A possibility of reverter is a reversionary interest that is subject to a condition precedent. This means that if a certain event happens, the property will automatically revert back to the original owner.

For example, if a property owner sells a piece of land to a developer with the condition that the land must be used for a specific purpose, such as building a park, and if the developer fails to use the land for that purpose, the property will revert back to the original owner. In this case, the original owner would have a possibility of reverter.

The reverter guarantee in a mortgage protects the lender from losing money if the property reverts back to the original owner. This is because the lender would no longer have a claim on the property and would not be able to recoup their investment.

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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