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Author Topic: Reversionary interest  (Read 108 times)

h974483

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Reversionary interest
« on: March 05, 2014, 05:24:51 AM »
 The reversionary interest of a lessor can subsist as a legal estate, but the reversion after any other interest than a lease is necessarily an equitable interest. 

what does it mean?

Citylaw

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Re: Reversionary interest
« Reply #1 on: March 05, 2014, 10:43:18 AM »
I am assuming the context is that this is a will or trust and someone has passed away.

I believe the language means that if the deceased/dead owner was leasing the property the lease is still valid, but if nobody is leasing the only way to obtain the property is buy purchasing it, but you have to prove you have the right to buy the property

If this is a real legal issue talk to an attorney in person advice from anonymous Internet posters like myself should be taken with a grain of salt. Good places to look for attorneys are your state bar association, county bar association, or sites like legalmatch.com