Sharpe v. North Carolina Railroad

Tbe North Carolina Railroad Company, by virtue of tbe last clause of tbe quoted stipulation in tbe Eonville deed, bad a mere possibility of reverter. Tbe reverter will not take place unless there is a violation of tbe restrictions, named as to tbe use of tbe granted premises. Tbe provision plainly shows tbat tbe reverter can only operate to revest tbe title in tbe North Carolina Railroad Company and not in tbe plaintiffs or others similarly interested under deeds with tbe same provisions.

This bare possibility of a reverter under a condition subsequent is not assignable at common law. Tbe same…