Definition of reversionary interest
Webreversion definition: 1. a change back to a previous and often worse condition: 2. a return of something to its previous…. Learn more. WebA reversionary interest happens when the owner of an asset grants an interest in the asset to another person for life or for a specified length of time. Ownership of the asset is …
Definition of reversionary interest
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WebAn incident of ownership also includes a reversionary interest (whether arising under the policy or other instrument or by operation of law), but only if the reversionary interest 's value exceeded 5% of the policy's value immediately before the decedent's death (Sec. WebDefine reversionary. reversionary synonyms, reversionary pronunciation, reversionary translation, English dictionary definition of reversionary. also re·ver·sion·al adj. Law Of or connected with the reversion of an estate.
WebDefinition of "Reversionary interest". Gerald Holland, Real Estate Agent Franzen Realtors. Property interest a person has that is presently possessed by another. Upon the … WebDefinition of "Reversionary interest". Spencer Barlow, Real Estate Agent Real Brokerage Technologies, Inc. Interest of a beneficiary in the proceeds of a survivorship annuity.
Webreversion, in Anglo-American law, interest held by a prior owner in property given to another, which, upon the happening of some future event, will return to that prior owner.A reversion is itself specific property, and it can be sold or disposed of as property by the reversion owner. One who holds property subject to a reversion interest held by … Webreversion. 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 has terminated. Examples: George Generous 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.
WebNov 30, 2024 · But no property law — indeed, perhaps no other concept studied in law school — is more complicated or dreaded by law students than the rule against perpetuities or the “RAP.”. The actual rule is …
how can i watch chip and joanna gainesWebReversionary definition, of, relating to, or involving a reversion. See more. how can i watch chitty chitty bang bangWeb(a) Under section 673(a), a grantor, in general, is treated as the owner of any portion of a trust in which he has a reversionary interest in either the corpus or income if, as of the inception of that portion of the trust, the grantor's interest will or may reasonably be expected to take effect in possession or enjoyment within 10 years commencing with the … how can i watch chive tvWebReversion definition, the act of turning something the reverse way. See more. how can i watch circle tvWebAn incident of ownership also includes a reversionary interest (whether arising under the policy or other instrument or by operation of law), but only if the reversionary interest 's … how many people have horsesWebReversion. Any future interest kept by a person who transfers property to another. A reversion occurs when a property owner makes an effective transfer of property to … how many people have high functioning autismWebA reversionary interest is the right to resume ownership of land if and when certain conditions are met. Reversionary interests have been used for centuries to provide a … how can i watch cnbc