Reversionary Interest definition:
Any interest, vested or contingent, the enjoyment of which is postponed.
In the context of real property or wills and estates (probate), reversionery interest, see Legal Definition of Reversion.
(n) Reversion is the process by which a right in a property transferred by a deed of trust, mortgage or pledge etc is returned back to the original owner after the interest held by others on such property is exhausted.
A future interest left in a transferror or his (or her) heirs. A reservation in a real property conveyance that the property reverts back to the original owner upon the occurence of a certain event. For example, Jim gives Bob a bulding using the words "to Bob for life".
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", ...
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 Iiis heirs, after the grant is over. Co. Litt. 142, b.
escheat A ~ of property to the State as a result of the lack of any person entitled to inherit the property from the decedent.
et al Latin term meaning and others.
et ano Latin term meaning and one other.
~: Future interest in property retained by a transferor or his heirs (for example, the interest left when the owner of a fee simple grants a life estate in the property).
Riparian rights: Rights of owners of land on a river bank.
[Anglo-French, from Middle French, from Latin reversio act of turning back, from revertere to turn back] 1 : the returning of an estate upon its termination to the former owner or to his or her ...
Contrary to a ~, a remainder does not go to the grantor or his (or her) heirs.
The heir entitled to the ~ may distrain for rent in arrear which becomes due after the ancestor's death; the rent does not become due till the last minute of the natural day, and if the ancestor die between sunset and midnight, the heir, and not the executor, shall have the rent.
Discounting: The procedure used to convert periodic income and ~s into present value: based on the assumption that benefits received in the future are worth less than the same benefits received now.
contracts. An alienation by a tenant of a part of his lease, reserving to himself a ~; it differs from an assignment, which is a transfer... more ...
A married woman was represented by her husband, but it appears that her agnatic kurios did retain certain rights: for instance, the ~ of her dowry.
See also: What is the meaning of Law, Property, Interest, Person, Attorney?