A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum that he has (such as the owner of a fee simple granting a life estate or a leasehold estate). Once the lesser estate comes to an end (the lease expires or the life estate tenant dies), the property automatically reverts (hence reversion) back to the grantor. Unlike some other future interests, reversions have always been fully alienable ('sellable').
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| - Umkehr (de)
- 컨버전 (ko)
- Reversion (law) (en)
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| - Unter Umkehr versteht man grundsätzlich jeden vollständigen Richtungswechsel (auch im übertragenen Sinn). (de)
- 컨버전(Conversion)은 미국법의 의 한 종류로 타인의 토지나 소유물의 형태를 변형시켜 손해를 입히는 것을 말한다. 이 손해는 타인이 자신의 소유물을 사용하고 향유할 권리를 중대히 손상시키거나 파괴하는 종류이다. 물건에 대한 불법침해와 겹치는 부분이 있는데 컨버전은 물건의 가치에 손상을 준다는 점에서 물건의 소유주에게 해를 입히는 물건에 대한 불법침해와 다르다. (ko)
- A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum that he has (such as the owner of a fee simple granting a life estate or a leasehold estate). Once the lesser estate comes to an end (the lease expires or the life estate tenant dies), the property automatically reverts (hence reversion) back to the grantor. Unlike some other future interests, reversions have always been fully alienable ('sellable'). (en)
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| - Unter Umkehr versteht man grundsätzlich jeden vollständigen Richtungswechsel (auch im übertragenen Sinn). (de)
- A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum that he has (such as the owner of a fee simple granting a life estate or a leasehold estate). Once the lesser estate comes to an end (the lease expires or the life estate tenant dies), the property automatically reverts (hence reversion) back to the grantor. A reversion interest is logically similar, but not legally identical, to the rights retained by someone who lends his property to another for a limited time. Although the bailee has the right to possess the property during the limited duration, these rights are neither permanent nor exclusive. When the time comes, the property rights of possession will terminate and return to the holder of the reversion. Reversions are commonly created in real property transactions, particularly during lease arrangements as well as devise (the transfer of real property through a will). In the context of a will, a testator may devise a simple life estate to a devisee. The testator may retain the reversion in the estate or give it to another individual. The owner of the life estate will retain ownership of the property during the devisee's life, and may freely alienate this interest. However, upon the death of the devisee the life estate will terminate and ownership of the real property will fully vest in the holder of the reversion. A tenancy for years is a simple illustration of a reversion interest in the context of leasing arrangements. An owner of real property becomes a lessor by transferring a bundle of rights – including a right of entry – to the lessee for a certain period of time. The lessor typically retains a reversion interest in the property which will mature after the lease expires. A common example of this transaction is the leasing of an apartment to a tenant for a one-year period. When the lease expires, the rights of the lessee are terminated and exclusive ownership of the property returns to the lessor. (In most jurisdictions today, tenants' rights legislation has made the practical picture more complicated). Reversion should not be confused with the possibility of reverter created in the grant of a fee simple determinable. Although both result in the return of the land to the original grantor or his heirs, reversions occur upon the natural expiration of the grantee's estate, while the possibility of reverter actively ends the grantee's otherwise-indefinite estate as a consequence of the grantee's failure to comply with the condition contained in the grant. Unlike some other future interests, reversions have always been fully alienable ('sellable'). (en)
- 컨버전(Conversion)은 미국법의 의 한 종류로 타인의 토지나 소유물의 형태를 변형시켜 손해를 입히는 것을 말한다. 이 손해는 타인이 자신의 소유물을 사용하고 향유할 권리를 중대히 손상시키거나 파괴하는 종류이다. 물건에 대한 불법침해와 겹치는 부분이 있는데 컨버전은 물건의 가치에 손상을 준다는 점에서 물건의 소유주에게 해를 입히는 물건에 대한 불법침해와 다르다. (ko)
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