WebA condominium may, with respect to the duration of its enjoyment, be either (1) an estate of inheritance or perpetual estate, (2) an estate for life, (3) an estate for years, such as a leasehold or a subleasehold, or (4) any combination of the foregoing. 783.1. Web1 nov. 2013 · A distinction is made between a reversion, which is an estate in the present, although to be enjoyed in the future, and capable of being transmitted by descent, …

Estate in Reversion: Definition & Laws Study.com

Web31 dec. 2024 · A trust is a legal arrangement in which one party (the trustee) holds property on behalf of another party (the beneficiary). In this scenario, an individual will acquire a property and then record a deed transferring legal title of the property to their trust. WebA reversion is the residue of an estate left in the grantor, to commence in possession after the determination of some particular estate; while a remainder is an estate limited to … dan leonard lexington nc

Chapter 5303 - Ohio Revised Code Ohio Laws

WebDefinition: (n.) The act of returning, or coming back; return. (n.) That which reverts or returns; residue. (n.) The returning of an esttate to the grantor or his heirs, by operation … Web23 jun. 2024 · A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum that he has (such as the owner of … WebAn estate in reversion is an interesting law in real estate. Once the lesser estate has expired or ended, the property will return to the original individual. While the estate has … birthday freebies for kids