Final answer:
A fee simple defeasible is the kind of estate where ownership can revert to the grantor if a stated condition is not met.
Step-by-step explanation:
The kind of estate in which ownership reverts to the grantor if usage fails to conform to a stated condition in the grant is known as a fee simple defeasible. In such an estate, the grantee holds the property with the condition that if a specified event occurs or does not occur, the property interest may be cut short, and the property will revert to the grantor or go to a third party. This contrasts with a fee simple absolute, where the owner has unrestricted ownership, and a land trust or life estate with a remainderman, where the property is managed or eventually passes to a different party without a condition for reversion.
The type of estate in which ownership reverts to the grantor if usage fails to conform to a stated condition in the grant is called fee simple defeasible. In a fee simple defeasible estate, the grantee (the person receiving the estate) holds ownership that is subject to a condition. If the condition is violated, the ownership of the property automatically reverts back to the grantor (the person who granted the estate).