What is reverter language?
The deed provided that the property was conveyed to a church to be “used for church purposes and that in the event the property was not used for church purposes, all right, title, and interest in the property would revert to the grantor.” The Supreme Court of Georgia upheld the reverter clause.
What is an example possibility of reverter?
For example, if A, owner of Black-acre in fee simple, makes the conveyance, “To B and B’s heirs as long as the land is used for church purposes,” then A has a possibility of reverter. A is entitled to the return of the land if B and B’s heirs do not use the land for the designated purpose.
What does possibility of reverter mean?
The possibility of reverter is a future interest held by a grantor or transferor of property as a fee simple determinable (See possessory estate). Distinct from a fee simple absolute, a fee simple determinable is an estate that has a provision that automatically reverts the property to the grantor if an event happens.
Can a possibility of reverter be conveyed?
The possibility of reverter arises when the grantor of real property has conveyed land subject to the possibility that the estate will return to her or to her heirs if a certain specified limitation occurs.
What is the difference between reverter and reversion?
Although both result in the return of the land to the original grantor or his heirs, reversions occur upon the natural expiration of the grantee’s estate, while the possibility of reverter actively ends the grantee’s otherwise-indefinite estate as a consequence of the grantee’s failure to comply with the condition …
What is the right of reentry?
1) The repossession of real property by a previous landholder with a future interest in the property who holds the right to repossess the property should the current landholder breach a condition of the grant through which they held the property. Also referred to as right of reentry, or power of termination.
What is a fee simple determinable?
a determinable fee simple estate is one that automatically terminates upon the occurrence of a specified event or the cessation of use for a specified purpose and will revert to the grantor without any entry or other act…
What is the difference between reversion and reverter?
Which of the following types of ownership estates may contain a reverter clause?
Future estates may be either reversionary estates or: Remainder estates. An estate in land that places certain restrictions on an owner’s use of the property and contains an automatic reverter clause is known as: A fee simple determinable estate.
What may be transferred Section 6?
It specifically speaks about, what may be transferred. Property of any kind may be transferred, except as otherwise provided by this act or even by any other law for time being in force, and these exceptions will be discussed in detail in the following sub-sections.
What may be transferred under TPA?
The Act contemplates the following kinds of transfers: (1) Sale, (2) Mortgage, (3) Lease (4) Exchange, and (5) Gift. Sale is an out-and-out transfer of property. In mortgage, there is a transfer of limited interest in property.
What is the difference between a fee simple determinable estate?
The major difference is that while a fee simple determinable automatically ends if the grantee (the person who received the land) does not fulfill the condition, the grantee’s interest in a fee simple subject to condition subsequent does not automatically end if the event or condition occurs.