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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 than he has (such as the owner of a fee simple granting a life estate or a leasehold estate).
In either scenario, once C dies, the ownership of the land will revert to A. If A has died, ownership will revert to A's heirs. The right to succeed to ownership of the property upon the expiration of the life estate is called a reversion. However, the remainder interest granted to a third party (A to B for life, with a remainder interest in C ...
Reversion – A reversion occurs at the end of a life estate when the property or land reverts to its original owner, known as the grantor. An estate in reversion simply means at the end of the ...
The legal term “pur autre vie” means “for the life of another” in French and when used in property law refers to a life estate that a grantor bestows on another person, known as a life ...
Analysis (O): O has a reversion (see above), since there is a one-year gap between A's estate and the succeeding estate Analysis (A): A has a possessory interest for life Analysis (B): B has a springing executory interest, since B's future interest follows the reversion to O, and if B reaches the age of 25 years after A's death B's interest ...
An enhanced life estate deed, often referred to as a “Lady Bird” deed, is a legal document utilized in some areas to streamline the transfer of property ownership. This deed simplifies the ...
In property law of countries with a common law background, including the United States and some Canadian provinces, pur autre vie (Law French for "for another['s] life") is a duration of a proprietary freehold interest in the form of a variant of a life estate. [1] [2]
A person, A, conveys (gives) a piece of real property called "Blackacre" "to B for life, and then to C and her heirs". B receives a life estate in Blackacre. C holds a remainder, which can become possessory when the prior estate naturally terminates (B 's death). However, C cannot claim the property during B 's lifetime.