Which term describes the scenario where a property owner has the right to reclaim their property upon the expiration of a tenant’s lease?

The correct term that describes the scenario where a property owner has the right to reclaim their property upon the expiration of a tenant’s lease is "Reversion."

In property law, reversion refers to the situation in which ownership of a property returns to the original owner after the termination of a lease or a specific estate. When a tenant leases a property, the landlord retains a reversionary interest, meaning they have the right to possess the property again once the lease concludes. This right is inherent in the nature of lease agreements, where the lease grants the tenant the temporary right to use and enjoy the property while the underlying ownership remains with the landlord.

Understanding reversion is essential for real estate professionals, as it defines the relationship between property owners and tenants, clarifying what happens to the property once the lease is over. The other choices reflect different legal concepts: for example, remainder interest involves a future interest that would be granted to a third party after the termination of a prior estate, while a leasehold estate refers to the tenant's interest in the lease itself. The right of first refusal, on the other hand, pertains to a tenant’s capability to purchase the property before the owner sells it to someone else, which is a different aspect of