The lease is a contract between a property owner and tenant that transfers exclusive use and possession of space to the tenant, but allows the owner to retake possession of the property at the expiration of the lease. Which type of interest allows the owner to retake possession at the end of a lease?
A) Remainder interest
B) Reversion interest
C) Spousal interest
D) Co-ownership interest

Question

Quizplus · Accepted Answer

A reversion interest is a future interest that allows the owner of a property to recover possession of the property after a lease or other type of tenancy expires. The owner retains ownership of the property during the lease period but has the right to retake possession when the lease ends.

The Lease Is a Contract Between a Property Owner and Tenant