Which term refers to a property interest that reverts to the original owner if specific conditions are violated?

The term that best describes a property interest that reverts to the original owner if specific conditions are violated is "Fee simple defeasible." This type of ownership allows the holder to use and enjoy the property, but with the understanding that if a specified condition is not met or is violated, the property will revert back to the original owner or grantor.

"Fee simple defeasible" carries certain conditions that must be adhered to for the ownership to remain valid. An example might be a property given to someone with the stipulation that the land must be used for educational purposes. If that condition is breached, the property would revert to the original owner.

In contrast, the other options do not fit this definition in the same way. "Fee simple subject to a condition" is similar but typically involves a different legal structure. "Life interest" refers to an ownership interest that lasts for the duration of a person's life, and does not revert based on conditions. "Leasehold interest" pertains to a temporary right to occupy and use the property under a lease agreement, which does not involve a reversionary interest based on conditions. Understanding these distinctions is essential when navigating property interests in real estate.