reversioner
The reversioner will inherit the property after the current tenant's lease expires.
Noun: 1. (Law) A person who holds the right of reversion to an estate or property. This is the legal owner of a future interest; they are entitled to possess the property only after the termination of a prior estate (such as a life estate or a lease for a term of years).
The term is used almost exclusively in legal contexts concerning property law and inheritance. * The life tenant cannot sell the land, as the ultimate ownership belongs to the reversioner. * Upon the death of the current leaseholder, the property will return to the reversioner. * The will clearly named her nephew as the reversioner of the estate.
- Rights of a Reversioner: A reversioner has a present, vested interest in the property's future possession. They can often take legal action to prevent waste (damage or degradation) of the property by the current possessor (the life tenant or lessee).
- Distinction from a Remainderman: Both are future interest holders, but a reversioner is the person to whom the property reverts (returns) after a prior estate ends, typically the original grantor or their heirs. A remainderman is a person designated to receive the property after a prior estate ends, who is the original grantor.
- Reversion (n): The right itself to future possession of an estate.
- Reversionary (adj): Of or relating to a reversion.
- Future interest holder
- Remainderman (in specific, contrasting legal contexts)
- Life tenant
- Current possessor
- Grantor (in the context of creating the future interest)
The reversioner will inherit the property after the current tenant's lease expires.
- (law) a party who is entitled to an estate in reversion