Definition from Nolo’s Plain-English Law Dictionary
The potential that the title to a real property interest will return to the original grantor. For example, a gift of a building to a hospital on condition that it be used forever for health care. If the building is no longer used for that purpose, the property will revert to the estate of the original grantor.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:21 pm