Law Dictionary
Letter R
Reversionary Lease
Legal definition for Indian law research
Definition
Reversionary lease, one to take effect in futuro. A second lease to commence after the expiration of a former lease. It did not create any term or estate, but only an interesse termini (see that title). By the (English) L.P. Act, 1925, s. 149, a term at a rent or a consideration of a fine cannot be created in law to take effect more than twenty-one years from the date of the instrument purporting to create it, and see RENEWAL and OPTION. Consult Foa or Wonafall on Landlord and Tenant
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.