A grantee in the reverter deed is in default and has been provided after such default with at least two written notices to this effect with … A contingent future interest in real property that a grantor of a determinable fee possesses after he or she has conveyed property. Reverter, Possibility of. It follows a determinable estate. a provision in a lease contract providing that the tenant's eviction for non-payment of rent will not relieve her of liability for damages for rent not paid. From O to A so long as A does not smoke. A contingent future interest in real property that a grantor of a determinable fee possesses after he or she has conveyed property. possibility of reverter. (Repealed effective October 1, 2019) Possibility of reverter. possibility of reverter - Legal Definition n A future interest retained by a grantor of an estate so that the grantee’s right to the estate would terminate and pass back to the grantor, should a certain pre-specified event or act actually occur. Possibility of Reverter and the Rule Against Perpetuities in Kentucky William C. Brafford Jr. University of Kentucky Follow this and additional works at:https://uknowledge.uky.edu/klj Part of theProperty Law and Real Estate Commons Click here to let us know how access to this document benefits you. § 55-376.1. a possibility of reverter. : a future interest in property that is retained by the grantor of a conditional fee or determinable fee and by which property reverts to the grantor upon the occurrence of a particular event or fulfillment of a particular condition compare reversion. The reverter deed from the developer contains the possibility of reverter by insertion of the language required by subsection E; 2. possibility of reverter. defeasible fee; right of entry The possibility of reverter arises when the grantor of real property has conveyed land subject to the possibility that the estate will return to her or to her heirs if a certain specified limitation occurs. Reverter definition, a person or thing that reverts. Note the durational language (conditional language would create a Right of Entry) A. ? The grantor retains a possibility of reverter if he conveys a fee simple determinable, which is a fee simple subject to some condition.
Related terms . possibility of reverter (plural possibilities of reverter) ( law ) Where a grantor of an estate in land has created a fee simple determinable (a condition on the grant which would give the grantor the right to reclaim ownership of the property), the grantor's remaining interest in the property. The right of reverter exists where a title to property is such that there is a chance that the property may return ("revert') to its former owner. A reversionary interest that is subject to a condition precedent; specif., a future interest retained by a grantor after conveying a fee simple determinable, so that the grantee’s estate terminates automatically and reverts to the grantor if the terminating event ever occurs. A reversionary interest that is subject to a condition precedent; specif., a future interest retained by a grantor after conveying a fee simple determinable, so that the grantee’s estate terminates automatically and reverts to the grantor if the terminating event ever occurs. possibility of reverter. Like you said, the Possibility of Reverter itself ,contrary to its name isn't a "possibility," but a total guarantee of reversion.
Here, if A smokes, the land will automatically revert back to O. possibility of reverter (plural possibilities of reverter) Where a grantor of an estate in land has created a fee simple determinable (a condition on the grant which would give the grantor the right to reclaim ownership of the property), the grantor's remaining interest in the property. See more. ? All of the above. Legal definition of possibility of reverter: a future interest in property that is retained by the grantor of a conditional fee or determinable fee and by which property reverts to the grantor upon the occurrence of a particular event or fulfillment of a particular condition. Possibility of Reverter. The possibility of reverter arises when the grantor of real property has conveyed land subject to the possibility that the estate will return to her or to her heirs if a certain specified limitation occurs. Reversion should not be confused with the possibility of reverter created in the grant of a fee simple determinable. Reverter, Possibility of. Possibility of reverter Definition A future interest in property held by a grantor: if a specified condition comes to pass, title to the property will revert to the grantor and his or her heirs. 2: possibility of reverter History and Etymology for reverter Anglo-French, from reverter to return, from Old French revertir to return, revert, from Latin revertere to turn back Possibility of reverter. A future interest that the grantor keeps. A possibility of reverter contained in a reverter deed for a time-share estate subject to reverter is valid, enforceable in law and in equity, and shall operate to transfer title to the time-share estate from each grantee therein back to the developer provided the following conditions are satisfied: This Note is brought to you for free and open access by the Law Journals at UKnowledge.