A beneficiary's reversionary interest under a trust consisting of personalty or land held upon trust for sale, whether vested or contingent, is a marketable interest which is often assigned for value, either absolutely or by way of mortgage. As in the case of the sale of land, it is customary to precede the actual assignment by an agreement describing the interest to be sold and setting out the title to be shown and the other terms upon which the transaction is to be completed.
The purchaser is usually provided with an abstract showing the documents and events upon which the
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234