Reverter Legal Meaning and Definition

Here is a simplified definition of the legal term Reverter.

Reverter (noun): This legal term describes a situation where a previously transferred property is returned to its original owner. This typically happens when certain conditions laid out in the original property transfer agreement are successfully fulfilled. For instance, when a loan that used the property as collateral is fully paid off, this may trigger the reverter and the property goes back to its original owner.