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Reverse Conveyance Notice
A priority notice of reconveyance is entered in the land register and secures the seller’s claims to the reconveyance of a plot of land. The entry of such a priority notice often occurs in connection with the development of land sold by cities and municipalities. The purchase of the land plot is subject to certain conditions. If the buyer does not comply with these conditions, the former owner (in this case, the city) has a claim for retransfer.