What is the difference between a reversionary estate and a remainder estate?

The key difference between a reversion and a remainder is that a reversion is held by the grantor of the original conveyance, whereas "remainder" is used to refer to an interest that would be a reversion, but is instead transferred to someone other than the grantor.

What is a reversionary interest?

In trust law terms, a reversionary interest is an interest that reverts back to the settlor of a trust once a beneficiary's interest has come to an end. For example, Bob gives a life interest in Rose Cottage to his mother Judy, and on Judy's death the cottage is to revert back to Bob.

What is an example of reversionary interest?

In trust law terms, a reversionary interest is an interest that reverts back to the settlor of a trust once a beneficiary's interest has come to an end. For example, Bob gives a life interest in Rose Cottage to his mother Judy, and on Judy's death the cottage is to revert back to Bob.

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Assignment of A Reversionary Working Interest

Fulton Georgia Assignment of A Reversionary Working Interest

Name: Fulton Georgia Assignment of A Reversionary Working Interest
Brand: US Legal Forms
Rating: 4.86 (489 reviews)

Category:

Oil Gas and Minerals - Assignments

State:

Multi-State

County:

Fulton

Control #:

US-OG-297

Format:

Instant download

Description

This form is used when an Assignor was granted the right to receive, at payout, a certain reversionary working interest in the Lease. Payout has not occurred, and Assignor is vested with beneficial ownership of the Interest in the Leases and Lands. The purpose of this Assignment and the intention of Assignor is to assign to Assignee, the Interest.

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How to fill out Fulton Georgia Assignment Of A Reversionary Working Interest?

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FAQ

The key difference between a reversion and a remainder is that a reversion is held by the grantor of the original conveyance, whereas "remainder" is used to refer to an interest that would be a reversion, but is instead transferred to someone other than the grantor.

In trust law terms, a reversionary interest is an interest that reverts back to the settlor of a trust once a beneficiary's interest has come to an end. For example, Bob gives a life interest in Rose Cottage to his mother Judy, and on Judy's death the cottage is to revert back to Bob.

Any future interest kept by a person who transfers property to another. A reversion occurs when a property owner makes an effective transfer of property to another but retains some future right to the property.

With reversionary interest, the property reverts to the owner after the death of the life tenant. With remainder interest, the title to the property goes to a named third party following the death of the life tenant.

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.

Reversionary interest in the context of real property or wills and estates means a reservation created in a real property conveyance that the property will revert back to the original owner upon the happening of a certain event.

A landowner who is concerned about the future use of his land can donate or sell the land on a conditional rather than absolute basis. A reversionary interest is created by a deed that reserves to the grantor a future ownership right upon the occurrence of some condition.

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On June 15, 1973, W. D. Short bought the working interest in the oil and gas leases included in the pooling agreement from the holders of such interests. 377 of the Fulton County, Georgia Recorder of Deeds' office.").Have each family member complete the worksheet to help get a clearer picture of what is most important to each in the farm transfer process. How to navigate in the Post- Covid Economy. A life tenant's ownership interest in the real property is not inheritable. Class viii of statutory warranty work was required. Excavating, transporting and filling of land. (2). Taxpayers in the City of Atlanta, and Fulton County, Georgia.

Fulton Georgia Assignment of A Reversionary Working Interest

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