Reversion
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- For the Wikipedia editing process, see Help:Reverting.
Contents |
[edit] Law
| Image:Scale of justice.svg |
| Property law |
|---|
| Part of the common law series |
| Acquisition of property |
| Gift · Adverse possession · Deed |
| Lost, mislaid, or abandoned |
| Alienation · Bailment · License |
| Estates in land |
| Allodial title · Fee simple · Fee tail |
| Life estate · Defeasible estate |
| Future interest · Concurrent estate |
| Leasehold estate · Condominiums |
| Conveyancing of interests in land |
| Bona fide purchaser |
| Torrens title · Strata title |
| Estoppel by deed · Quitclaim deed |
| Mortgage · Equitable conversion |
| Action to quiet title |
| Limiting control over future use |
| Restraint on alienation |
| Rule against perpetuities |
| Rule in Shelley's Case |
| Doctrine of worthier title |
| Nonpossessory interest in land |
| Easement · Profit |
| Covenant running with the land |
| Equitable servitude |
| Related topics |
| Fixtures · Waste · Partition |
| Riparian water rights |
| Lateral and subjacent support |
| Assignment · Nemo dat |
| Other areas of the common law |
| Contract law · Tort law |
| Wills and trusts |
| Criminal Law · Evidence |
In law, a reversion is an agreement such that one party (grantee) is given a possessory interest in a property from another (grantor) under the understanding that the interest will "revert" back to the grantor at the expiration of the grantee's interest (e.g. grantee's death, expiration of a term of years, etc.).
A common form of a reversion is for one person to allow another to possess a house until their death, upon which time it reverts to the grantor. This may be represented by the language "To A for life," with the reversionary interest assumed.
Reversions themselves can be thought of as a form of derivative in which the underlying asset is a piece of property rather than a more usual financial instrument. Reversions can thus themselves be bought and sold.
[edit] Real Estate Appraisal
In real estate appraisal a reversion is a lump-sum benefit an investor receives or expects to receive upon the termination of an investment; also called reversionary benefit. A reversion can be used in real estate valuation by valuing the last projected cash flow as a perpetuity using a reversion cap rate.
[edit] Evolution
In evolution, reversion is the return of a character to one of its previous ancestral state. Reversion are quite commonly observed within DNA. The existence of reversion refutes Dollo's law a 19th century theory that evolution cannot return to a prior form of an organism.
[edit] Software and content development
Reversion or reverting is the return to a previous instantiation of a piece of software, saved database state, web page, wiki article, or other piece or set of digital content or data.
[edit] Mathematics
In mathematical analysis, given a power series for a function <math>f</math>, reversion of that series amounts to finding the "inverse" power series, that is, the power series of the inverse function <math>f\,^{-1}</math>.
[edit] Television production
In television production, the word may refer to the process of reversioning (or re-versioning, thus re-version): the relatively recent phenomenon of recycling pre-existing productions, even entire series, into "new" shows. Completed TV shows that have already aired are re-edited or supplied with new voice-over, graphics or music, and then aired with a new title, often for a new audience. Sometimes the changes are relatively minor, as in the case of Prehistoric Planet, which was made from the original series Walking with Dinosaurs.
An example of a reversioned film is Woody Allen's What's Up, Tiger Lily?, in which the director wrote new English dialogue for the Japanese film International Secret Police: Key of Keys for comic effect.
[edit] Religion
Instead of religious conversion, when a person becomes Muslim ("comes to Islam") this is known as reverting, because (according to Muslims) all babies are believed to be born as Muslims.
