Reversion Law and Legal Definition
Reversion, in the context of real property, means the return to the grantor or his/her heirs of real property after all interests in the property given to others have terminated. Reversion occurs when the property owner transfers a vested estate of lesser quantum than he started with. Reversion is also called "reverter."
For example, if A grants land “to B until he marries Y” or “to Z so long as the land is used for church purposes”, then there is a possibility that the land will revert to A if B marries Y, or if the land is no longer used for a church.
Tax reversion is the process by which delinquent property taxes are collected, or in lieu of collection, the process which governs the disposition of real and tangible personal property upon which property taxes remain unpaid.