What type of estate does a grantor retain if they have the right to reclaim property if conditions are not met?

The correct answer is rooted in the concept of a reversionary estate, which is a type of future interest that allows the grantor to regain possession of the property under specific conditions. When a grantor retains the right to reclaim property if certain conditions are not fulfilled, it establishes a scenario where the property is transferred conditionally, with an expectation that the grantor may regain ownership should those conditions not be met.

In the case of a reversionary estate, the grantor's interest in the property remains intact until a specified event occurs. If the conditions outlined in the transfer are violated or not satisfied, the property automatically reverts back to the grantor.

This differs from a defeasible fee, which involves property ownership that can also be terminated if conditions are not met; however, the key distinction is that a defeasible fee pertains to a current estate that can be lost based on future events, rather than a future interest retained by the grantor. A fee simple estate represents complete ownership with the greatest rights of possession and transfer, without conditions attached, and a life estate involves ownership for the duration of an individual's life, after which it reverts to another party.

By holding a reversionary estate, the grantor effectively maintains the right