Reversion

Reversion in real estate refers to the right of a property owner to regain possession of their property after a specific event or period of time. This typically occurs in situations where the property was transferred to another party for a temporary purpose, such as a lease or life estate. Once the specified conditions are met, ownership reverts back to the original owner or their designated heirs. Reversionary interests can vary in complexity and duration, and they are often outlined in legal documents such as leases, deeds, or trust agreements.