property & real estate law

Restriction

A restriction is any limitation on activity, by statute, regulation, contract provision, or in a conveyance. Individuals or persons seeking restrictions may be limited in what they can restrict, however. For example, a legislature cannot pass...

Restrictive covenant

A restrictive covenant is a provision in a real property conveyance that limits the grantee’s use of the property. The beneficiaries of a restrictive covenant obtain rights from such covenants, and this may be the parties who agreed to the...

Reverter

See reversion.

[Last updated in April of 2021 by the Wex Definitions Team]

Revocation of Wills by Instrument

Revocation of a will by instrument means that a will is made invalid by the valid execution of a new will that contains a clause that expressly revokes the former will.

Revoke

See revocation.

[Last updated in April of 2021 by the Wex Definitions Team]

Right of entry

A future interest that the grantor keeps. It follows an estate subject to a condition subsequent.

Example: From O to A, on the condition that A does not smoke. If A smokes, O has the right to come in and reclaim the land. Note that O must...

Right of Redemption

In some states, mortgagors who default on their loans and lose their mortgaged property may recover their property by exercising a right of redemption. To exercise the right, mortgagors must pay their lenders the full amount of their unpaid debt, plus...

Right of representation

1) See per stirpes.

2) In a political context, right of representation is the right of a citizen to elect members of a legislature to represent them.

3) See right to counsel.

[Last...

Right of Survivorship

Under the right of survivorship, each tenant possesses an undivided interest in the whole estate. When one tenant dies, the tenant’s interest disappears and the others tenants’ shares increase proportionally and obtain the rights to the...

Rule Against Perpetuities

A common law property rule that states that no interest in land is good unless it must vest, if at all, not later than twenty-one years after some life in being at the creation of the interest. Because the meaning of this rule is virtually impossible to...

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