the fixed annual payment is for the crown but the concept of the reversion is what the matter is all about.
All GLORY goes to GOD, and in a universe of INFINATE POSSIBLITIES, there exists a CHANCE, no matter how remote, that some interest within the estate can revert back to the one using the property because there is the REMOTE POSSIBLITY that the one using the estate IS the OWNER.
Since the TRUST operates under the principles of a cestui que, the OWNER can come back at any time, thus the ENTIRE estate REVERTS to the OWNER ... A reversion occurs when a property owner makes an effective transfer of property to another but retains some future right to the property.
26 USC § 2037 (b ) the term "reversionary interest" includes a possibility that property transferred by the decedent:
(1) may return to him or his estate, or
(2) may be subject to a power of disposition by him,
but such term does not include a possibility that the income alone from such property may return to him or become subject to a power of disposition by him.
26 USC § 673 - Reversionary interests
(a ) General rule
The grantor shall be treated as the owner of any portion of a trust in which he has a reversionary interest in either the corpus or the income therefrom, if, as of the inception of that portion of the trust, the value of such interest exceeds 5 percent of the value of such portion.
Commissioner v. Estate of Field - "It makes no difference how vested may be the remainder interests in the corpus or how remote or uncertain may be the decedent's reversionary interest. If the corpus does not shed the possibility of reversion until at or after the decedent's death, the value of the entire corpus on the date of death is taxable.' "
In 1760 George III surrendered the right to govern in person, and as a result the monarch's entitlement to the revenue of the Crown Estate, which was transferred to HM Treasury. The agreement relieved the monarch of all responsibility for: the cost of the civil government, the national debt accrued by previous monarchs, and his own personal debt.
So, what King George III showed that as long as the ENTITLEMENT does not REVERT back to the KING, the KING and his KINGDOM, private and PUBLIC: Corporation Sole, stand EXEMPT from burden.
We are called to be architects of the future, not its victims;
Resistance is futile.
If you think you can, you are correct.
If you think you can't, you are correct.