Reversion

In law, a '''reversion''' is an agreement such that one party takes ownership of a piece of property from another under the understanding that the ownership will revert to the second party when an agreed event occurs.

The most common form of reversion agreement is for one person to allow another to own a house until their death, upon which time it reverts to reversion holder.

Reversions themselves can be thought of as a form of Derivative in which the underlying asset is a piece of property rather than a more usual Financial Instrument . Reversions can thus themselves be bought and sold.

In television production, '''reversioning''' is the relatively recent phenomenon of recycling pre-existing series into new shows. Completed TV shows that have already aired are re-edited or supplied with new voice-over, graphics or music, and then aired with a new title, often for a new audience. Sometimes the changes are relatively minor, as in the case of Prehistoric Planet , which was made from the original series Walking With Dinosaurs .

An example of a reversioned film is Woody Allen 's What's Up, Tiger Lily? , in which the director wrote new English dialogue for a the Japanese film "International Secret Police: Key of Keys" for comic effect.

In Evolution , reversion is the return of a character to one of its previous ancestral state. Reversion are quite commonly observed within DNA . The Dollo%27s_law postulates that reversion is impossible. This law, as most biogenetic laws of the 19th century, is essentially wrong.

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Reversion