Definition of "Reversion"

Joanne Jacobs real estate agent
Joanne Jacobs, Real Estate Agent Charles Rutenberg Realty

Also called estate in reversion. A vested interest or estate in which a person has a fixed interest in the future. For example, if a grantor is required by the IRS to pay a substantial sum in back taxes, the part remaining reverts to the estate for later distribution to the beneficiaries.

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