Reversionary interest
In property law, the term ‘reversion’ (returning or reverting something to its previous state) refers to the interest a party to whom a property will revert at the expiry of an agreement has in that property. Typically this relates to the reversionary interest of the landlord or freeholder to whom a property will revert when a lease expires.
When a leasehold expires, legal title to the property reverts back to the freeholder. However, the leaseholder (often the occupier) may be able to purchase the freeholder's reversionary interest giving them an absolute freehold title.
When a property is rented from a landlord, the property will revert to the landlord at the end of the lease. If the property has not been properly maintained or repaired in accordance with the lease, the landlord may be able to claim damages for the diminution in value of their reversionary interest (see Dilapidations for more information).
[edit] Related articles on Designing Buildings
Featured articles
Check out some of the best features and news from Designing Buildings as well as key stories from around the web.
Construction Management, 8 July
NEETs crisis drives interest in trades, but apprenticeships barriers remain.
Passive fire protection webinar
MEP services penetration seals.
Where its at podcast (and video) - The role of the Architectural Technologist as an Expert Witness.
More than 200 remarkable buildings added to SAVE’s Buildings at Risk register.
Government scraps pre-application consultation for Nationally Significant Infrastructure Projects.
Historic England and infrastructure
New projects offer opportunities for the historic environment and local communities.
Construction Management, 2 July
Construction deaths halve in two years.
Green Book changes to drive investment in all parts of UK.
Minimum energy efficiency standards (MEES)
CIAT briefing on response to consultations for privately rented non-domestic properties.
Connect, collaborate, shape the future
Registration now live for UK Construction Week Birmingham.
CIOB announces Saul Humphrey FCIOB as new President for 26/27 term.
A quick, simple, and zero-bills solution to prevent overheating.