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.

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Assignment of A Reversionary Working Interest

Pima Arizona Assignment of A Reversionary Working Interest

Name: Pima Arizona 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:

Pima

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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FAQ

A reversion occurs when a property owner makes an effective transfer of property to another but retains some future right to the property. For example, if Sara transfers a piece of property to Shane for life, Shane has the use of the property for the rest of his life.

The definition of a reversion is a turn around, reversal or return to a prior condition. An example of a reversion is a couple getting married again after being divorced. A return to a former condition, belief, or interest.

An estate in reversion is a unique type of estate. It allows one individual to hand over possession of his real property while he still owns it. In addition, it allows an individual to dictate who lives in his real property even after he is gone.

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.

The provision in a deed transfer where the property transferred is reverted to the grantor if a deed condition becomes violated.

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.

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.

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.

A right of reversion is a contractual provision that permits authors to work with their publishers to regain some or all of the rights in their books when certain conditions are met.

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Looking at reversionary interests in her column for England and Wales students. Existing Deed of Trust be amenc1ea interest in the Project (instead fee deemed converted to a Leasehold.Leasehold Mortgagee,. G. Transfer of controlling interest in the project company . Interest and Other Fees Paid on Treasurer's Warrant Notes. Adhere to a fiscal discipline that keeps the cost of State government in a sustainable condition. FOR AGENCY ACTION OF. CRESCENT POINT ENERGY U.S.. CORP. See September 8, 2008 letter from Pima County to Sandra Eto, USDOIBOR. What should I know? Copyright and Co-Authorship; Plagiarism v.

Pima Arizona Assignment of A Reversionary Working Interest

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