"Revocable" Pronounce,Meaning And Examples

"Revocable" Meaning

The word "revocable" means capable of being changed, canceled, or recalled; subject to revocation, i.e., the act of taking something back.

"Revocable" Examples

5 Usage Examples of "Revocable"

1. Contractual Agreement

A revocable trust is created by a grantor who retains the right to amend, alter, or end the trust during their lifetime, providing certain conditions are met.

2. Banking and Finance

The loan was made with a revocable mortgage, meaning that the owner has the option to cancel the loan at any point without penalty.

3. Estate Planning

The will is made revocable by the grantor, allowing them to change the beneficiaries at any time prior to their passing.

4. Commercial Law

The revocable license agreement allows the holder to cancel the license at any time, which could be in favor of the firm.

5. Environmental Law

The government provides a grant for a research project with a revocable eco-friendly condition, ensuring the proposal aligns with environmental standards.