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.

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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Notice of Payout by Party Entitled to Reversionary Interest

Dallas Texas Notice of Payout by Party Entitled to Reversionary Interest

Name: Dallas Texas Notice of Payout by Party Entitled to Reversionary Interest
Brand: US Legal Forms
Rating: 4.76 (207 reviews)

Category:

Oil Gas and Minerals - Notices

State:

Multi-State

County:

Dallas

Control #:

US-OG-354

Format:

Instant download

Description

This form is used when Assignee has recovered certain costs out of Assignee's share of the proceeds of production of oil and gas from producing wells on the Lease, and Assignee's interest in the Lease is reduced. Assignor will be vested with title to an interest in the Lease, the "Reversionary Interest".

Notice to Adjoining Business Proprietor of...

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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.

Reversionary interest is a condition in a trust where the original owner of a property can claim it back after transferring it to a beneficiary. It is also known as reversion to settlor or revertor to settlor.

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.

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.

Note: The person entitled in reversion may be entitled to sell or otherwise dispose of the interest in reversion before the death of the life tenant, in which case the purchaser would be entitled to the land in reversion.

Remainder, in Anglo-American law, a future interest held by one person in the property of another, which, upon the happening of a certain event, will become his own. The holder of this interest is known in legal terms as a remainderman.

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.

A reversionary interest can be either a vested interest or contingent interest.

Reversionary Interests These are future interests held by the grantor or devisor of an interest in real property. A grantor is simply the name we give to someone who conveys an interest during his or her life, while a devisor does it through a will after death.

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Assign its lease to a new party or sublet all or part of its premises. The Reversionary Interest may be.Negotiate for maximum reversion of interests following Payout. Fill out the form to access a sample of Practical Guidance. The Arizona property passed, through several parties, to Virginia. The incorporeal rights that are appurtenant to the property. Rights he acquired in trust for six parties who each owned an undivided one- sixth interest in the property. Sufficient cash flow for rent payment.

Dallas Texas Notice of Payout by Party Entitled to Reversionary Interest

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