Patrick owns an office building and leases space on a year-to-year basis.Patrick maintains a reversionary interest on the property.

Name: Patrick owns an office building and leases space on a year-to-year basis.Patrick maintains a reversionary interest on the property.
Brand: Quizplus
Rating: 4.8 (29 reviews)

Question

​Patrick owns an office building and leases space on a year-to-year basis.Patrick maintains a reversionary interest on the property.

Quizplus · Accepted Answer

A reversionary interest means that Patrick retains the right to the property after the lease expires. This is generally the case in a year-to-year lease agreement.

​Patrick Owns an Office Building and Leases Space on a Year-To-Year

Patrick Owns an Office Building and Leases Space on a Year-To-Year