Common use of Reverter Clause in Contracts

Reverter. In accordance with the Public School Code of 1949, 24 P.S. § 7-707(8), the Deed conveying the Property from NASD to Township shall include a provision whereby the Property will revert to NASD in the event the Property is no longer being used for municipal purposes.

Appears in 2 contracts

Sources: Agreement of Sale, Agreement of Sale