Which of the following represents an estate with specific conditions allowing for reversion?

Study for the Virginia Real Estate Level 1 Pre-License Test. Prepare with detailed questions and explanations. Equip yourself for success!

An estate with specific conditions allowing for reversion is best represented by a fee simple subject to a condition subsequent. This type of estate is one where the grantor transfers ownership with certain conditions or restrictions placed on the use of the property. If these conditions are violated or not adhered to, the grantor has the right to reclaim the property.

In this context, the fee simple subject to a condition subsequent is a type of fee simple estate that retains a possibility of reversion to the grantor if the specified condition is breached. Thus, if the property is used in violation of the terms set by the grantor, they can take action to reclaim ownership, emphasizing the condition involved.

In contrast, a fee simple absolute offers complete ownership without conditions, making it the most unrestricted form of property ownership. A life estate also does not allow for reversion based on conditions but is instead limited to the lifetime of the individual who holds it. A general estate is a more ambiguous term and doesn't specifically denote conditional ownership tied to reversion. Therefore, only the fee simple subject to a condition subsequent aligns with the concept of having specific conditions that could lead to reversion of ownership.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy