lease of the reversion

lease of the reversion
A lease of property already subject to a lease, which is granted out of the reversion. It is also known as a concurrent lease.
Sometimes a lease of the reversion may be called an overriding lease, however, that term has a specific meaning in the context of the Landlord and Tenant (Covenants) Act 1995.
A lease of the reversion is often referred to as a reversionary lease, although that term has another, separate, use as well.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • Lease and release — is a temporary transfer (by sale) of title to real estate under real property law. Lease and release was a mode of conveyance of freehold estates, formerly common in England and in New York, its place is now supplied by a simple deed of grant. [… …   Wikipedia

  • lease — Any agreement which gives rise to relationship of landlord and tenant (real property) or lessor and lessee (real or personal property). Smith v. Royal Ins. Co., C.C.A.Cal., Ill F.2d 667, 671. A contract for exclusive possession of lands,… …   Black's law dictionary

  • lease — Any agreement which gives rise to relationship of landlord and tenant (real property) or lessor and lessee (real or personal property). Smith v. Royal Ins. Co., C.C.A.Cal., Ill F.2d 667, 671. A contract for exclusive possession of lands,… …   Black's law dictionary

  • lease in reversion — A lease that becomes effective only at the expiration of the term of the prior lease. That the lease is to have this effect may be expressed in two ways, i. e., the time set for the beginning of the term in the second lease may be made to… …   Ballentine's law dictionary

  • reversion — /rɪ vɜ:ʃ(ə)n/ noun a return of property to an original owner ♦ he has the reversion of the estate he will receive the estate when the present lease ends …   Dictionary of banking and finance

  • lease and release — noun 1. : a nearly obsolete common law mode of conveyance of freehold estates by means of a lease vesting a leasehold estate in the lessee upon actual entry and a subsequent release of the reversion to the lessee, thus vesting the fee in the… …   Useful english dictionary

  • reversion — re·ver·sion /ri vər zhən/ n [Anglo French, from Middle French, from Latin reversio act of turning back, from revertere to turn back] 1: the returning of an estate upon its termination to the former owner or to his or her successor in interest 2 a …   Law dictionary

  • THE MIDDLE AGES — …   Encyclopedia of Judaism

  • reversion duty — noun chiefly Britain : a duty levied on a lessor at the termination of a long lease based on increase of property valuation during the period of the lease …   Useful english dictionary

  • reversion — [rɪ və:ʃ(ə)n] noun 1》 a return to a previous state, practice, or belief.     ↘Biology the action of reverting to a former or ancestral type. 2》 Law the right to possess or succeed to property on the death of the present possessor or at the end of …   English new terms dictionary

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