Property Ownership
What is a reversionary interest in Nevada real estate?
AThe right of a buyer to reverse a completed sale
BThe grantor's right to reacquire property upon termination of a lesser estate (like a life estate or fee simple determinable)✓ Correct
CA lender's right to reverse a loan approval
DThe government's right to reclaim all private land
Explanation
A reversionary interest is the residual interest retained by the grantor when they convey a lesser estate. For example, when a grantor conveys a life estate, the property reverts to the grantor (or their heirs) upon the life tenant's death.
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