What type of ownership is characterized by conditional restrictions where breaking them may result in the property reverting back to the grantor?

The correct answer is characterized by ownership that includes specific conditions or restrictions imposed by the grantor. In a defeasible fee simple, the property ownership is subject to certain conditions that, if violated, can lead to the property reverting to the original grantor or their heirs. This specific form of ownership gives the grantor a significant level of control over the property, as they can reclaim it if the stipulated conditions are not honored.

For instance, common conditions might include prohibitions against specific types of land use or requirements for maintaining the property in a particular way. The concept of 'defeasibility' in this context refers to the possibility of the ownership being defeated or voided upon the occurrence of a specified event.

Understanding this concept is important for anyone involved in property law or surveying, as it defines not only the rights of ownership but also the responsibilities that are tied to that ownership. The other options, while related to property in some fashion, do not encapsulate this particular characteristic of ownership tethered to conditional restrictions.