possibility of reverter
- A future interest in real estate that is held by the person who initially transfers the property, which allows them to regain possession when certain conditions are met or certain events occur
- In the deed, there was a clause that stated the possibility of reverter that applies if the property is not used for educational purposes.
- Due to the possibility of reverter, the organization could lose the property, if they do not abide by the conditions set in the agreement.
- The inheritance tax would not apply in the case of a possibility of reverter, as the original ownership is reinstated on the emergence of stipulated events or conditions.
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