reversionary interest

reversionary interest
reversionary interest see interest 1

Merriam-Webster’s Dictionary of Law. . 1996.

reversionary interest
An interest held by someone who has the right to future enjoyment of property currently held by another person.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

reversionary interest
England, Wales
In trust law terms, a reversionary interest is an interest that reverts back to the settlor of a trust, once a beneficiary's interest has come to an end. For example, Bob gives a life interest in Rose Cottage to his mother Judy, and upon Judy's death the cottage is to revert back to Bob. Bob has a reversionary interest (also known as an interest in "reversion" or as a "reverter to settlor").
For inheritance tax purposes the meaning is more wide. It means any remainder interest.

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

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Look at other dictionaries:

  • reversionary interest — The interest which a person has in the reversion of lands or other property. A right to the future enjoyment of property, at present in the possession or occupation of another. The property that reverts to the grantor after the expiration of an… …   Black's law dictionary

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  • Reversionary — Re*ver sion*a*ry, a. (Law) Of or pertaining to a reversion; involving a reversion; to be enjoyed in succession, or after the termination of a particular estate; as, a reversionary interest or right. [1913 Webster] …   The Collaborative International Dictionary of English

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