What type of estate is subject to restrictions imposed by the previous owner?

A fee simple conditional is a type of estate that is granted subject to certain conditions or restrictions set forth by the previous owner. If the conditions are not met, the ownership may revert back to the original owner or their heirs. This unique characteristic differentiates it from other types of estates, such as a fee simple absolute, which provides complete ownership without any conditions or limitations.

In a life estate, ownership is limited to the lifetime of a specific individual and does not necessarily involve restrictions imposed by the previous owner, apart from determining who benefits from the property during that lifetime. A leasehold estate refers to an arrangement where the tenant has the right to occupy and use the property for a specified period, but this is typically governed by a lease agreement rather than conditions set by the previous owner of the property. These distinctions clarify why fee simple conditional is the correct answer, as it directly involves ownership contingent upon fulfilling the specific stipulations made by the former owner.