The possibility of reverter is a future interest held by a grantor or transferor of property as a fee simple determinable (See possessory estate). Examples of Possibility of reverter in a sentence. Possibility of reverter - A right by the grantor of a fee simple determinable interest (or such grantor's heirs) to the return of the fee simple interest upon the occurrence of a stated condition; provided, however, that, if the reversion event shall be a Freehold Land Transfer Transaction, subsection (1) above shall apply thereto. Section 554.62 - Specified contingency; termination right; limitation period. <>0]/P 13 0 R/Pg 9 0 R/S/Link>> University of Michigan Law School Follow this and additional works at: https://repository.law.umich.edu/mlr Part of the Land Use Law Commons, and the Property Law and Real Estate Commons Michigan - Right to Repair 2 0 obj It may be time to get back to the classroom: property lawyers should be alert to peculiarities when dealing with property formerly owned by schools, institutions promoting science, the arts and literature or used as a place of worship. MCL 554.62; MSA 26.49(12) provides as follows: MCL 554.65; MSA 26.49(15) further provides: Therefore, a right of termination is lost after thirty years unless a notice is recorded pursuant to MCL 554.65; MSA 26.49(15), which would preserve the right for an additional thirty years. 1 . What time does normal church end on Sunday? Please accept our use of cookies and help us improve your experience. Commentary relating to legal events in the sports industry. Conditional Transfer/Reverter: Fee simple returns to the grantor upon failure of the condition of transfer. 1 <>15]/P 20 0 R/Pg 9 0 R/S/Link>> A Primer on Michigan Right of Way Law - DocsLib but, except by rele'ase, or conveyance with a reversion, or between the heirs of the grantor, the power o{ termination is not alienable. 5 . Learn the definition of future and reversionary interests, and explore the three types of reversionary interests: possibility of reverter, right of entry, and reversion. <>32]/P 24 0 R/Pg 9 0 R/S/Link>> . The complaint requested various forms of relief, including a temporary restraining order, a preliminary injunction, and a permanent injunction prohibiting defendants from trespassing on parcel 2.
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michigan right of reverter