Reversion

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Law

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" 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.

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.

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.

Software and content development

Main article: Reversion (software 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.

Mathematics

In mathematical analysis, given a power series for a function $f$, reversion of that series amounts to finding the "inverse" power series, that is, the power series of the inverse function $f\backslash ,^\{-1\}$.

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.

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.

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