reversion

reversion definition - business

reversion

The return of property to the prior owner or grantor. For example, leased property goes back to the lessor at the termination of the lease. Under a reversion clause, unspent funds from a federal grant must be returned to the government.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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