1.Reversion is the interest remaining in the grantor, or in the successor in interest of a testator, who transfers a vested estate of a lesser quantum than that of the vested estate he has.
a.Examples
i.O (fee simple) conveys to A for life, remainder to B = no reversion (LE + vested remainder in F.S. ends the reversion)
ii.O (fee simple) conveys to A for life, remainder to A’s children(not yet born at time of conveyance) = O has reversion (LE + contingent remainder in F.S. does not end the reversion)
b.Reversion exists even if possession never occurs, the interest (even if only a possibility) is still called a reversion
2.Possibility of Reverter arises when an owner carves out of his estate a determinable estate of the same quantum.
a.Only refers to the interest of a grantor of a Defeasible Fee Simple Determinable
3.Right of Entry arises when an owner transfers an estate subject to a condition subsequent and retains the power to cut short or terminate the estate.
a.Only refers to the interest of a grantor of a Defeasible Fee Simple Subject to a Condition Subsequent.