A reversionary lease is a lease that does not commence until some future date.
In Australia, legislation restricts such leases.
Such a lease would be void if the lease takes effect more than 21 years from the date that of the instrument.
[1][2] A reversionary lease is to be distinguished from a lease of a reversion which is when the landlord after granting a lease to lessee 1 and later grants a lease of the same property to lessee 2 for the same or different period.
This real estate article is a stub.