What is right of reverter?

Answer 1

The right of reverter exists where a title to property is such that there is a chance that the property may return ("revert') to its former owner. A right of reverter gives a person the opportunity to retake possession or ownership of property that is not being used in accordance with the requirements laid out upon the transfer of the title of the property. For example: In the case of a Fee Simple Determinable title to a property, the former owner may convey title to the property to the current owner on a condition. Such a condition could be that the land shall be used for non-comercial purposes. Should the current owner begin to use the land for commercial purpose his or her right to the land would cease and the title of the property reverts to the former owner. The right of reverter exists where a title to property is such that there is a chance that the property may return ("revert') to its former owner. A right of reverter gives a person the opportunity to retake possession or ownership of property that is not being used in accordance with the requirements laid out upon the transfer of the title of the property. For example: In the case of a Fee Simple Determinable title to a property, the former owner may convey title to the property to the current owner on a condition. Such a condition could be that the land shall be used for non-comercial purposes. Should the current owner begin to use the land for commercial purpose his or her right to the land would cease and the title of the property reverts to the former owner.