Possibility of reverter definition

Possibility of reverter means a provision contained in a reverter deed whereby the time-share estate
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Possibility of reverter means a provision contained in a reverter deed whereby the time-share estate automatically reverts or transfers back to the developer upon satisfaction of the requirements imposed by §55-376.1;
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Possibility of reverter means a provision contained in a reverter deed by which the time-share
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Examples of Possibility of reverter in a sentence

  • Possibility of reverter not transferable b/c it wasn’t seen as property interest, but as possibility of becoming estate.

  • Possibility of reverter – A right by the grantor of a fee simple determinable interest (or such grantor’s heirs) to the return of the fee simple interest upon the occurrence of a stated condition; provided, however, that, if the reversion event shall be a Freehold Land Transfer Transaction, subsection (1) above shall apply thereto.

  • Possibility of reverter agreements have a few benefits over shoreline migration easements:1) Holders of the future interests (land trust of governments) do not have to monitor any possible efforts by property owners to extend their ownership through illegal erosion prevention measures because properties will revert regardless.

  • Real estate law provides several mechanisms to enforce a condition:▪ Possibility of reverter – If a condition specified in the bill (and therefore the deed) occurs, the title to the land automatically reverts to the state, without any action on the part of the state.▪ Right of re-entry – If a condition specified in the bill (and therefore the deed) occurs, the state has the right to retake the land.

  • Possibility of reverter is going to become transferable sooner than a right of entry, because possibility of reverter is automatic v.

  • Possibility of reverter occurs when someone does not fulfill the determinable limitation.

  • Correlative future interest- Possibility of reverter in the grantor.

  • Possibility of reverter: a future interest retained by the transferor who conveys a fee simple determinable.

  • Possibility of reverter is created unless grantor creates a third party who would get his possibility of reverter (executory interest).

  • The governing body assesses the risks of these not being complied with and takes appropriate action to mitigate and manage them.


More Definitions of Possibility of reverter

Possibility of reverter means a provision contained in a reverter deed whereby by
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Possibility of reverter means a provision contained in a reverter deed by which the time-share estate automatically reverts or transfers back to the developer upon satisfaction of the requirements imposed by § 55.1-2222.
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