In property law, what does the term "reversion" refer to?

The term "reversion" in property law specifically refers to the scenario where property is returned to the original owner or the owner's heirs after the termination of a life estate. A life estate is an interest in land that lasts for the duration of a person's life. When that individual passes away, the property does not remain with the life tenant; instead, it reverts back to the original owner or a designated party, which is typically specified in the property deed or during the estate planning process. This concept ensures that the original owner retains a future interest in the property after granting someone else temporary rights to use it.

This understanding of reversion clarifies its importance in managing property rights and ensures that property ownership can revert back to its original state after certain conditions are met, in this case, the end of a life estate. Other choices provided do not accurately address the definition and characteristics of reversion in the context of property law.