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Reversionary rights in real estate refer to the ownership interest retained by a property owner when transferring a property for a limited period or purpose. When a property is transferred subject to certain conditions, such as a lease, life estate, or easement, the original owner maintains the right to reclaim ownership once those conditions are met or expire. These conditions are typically outlined in legal documents such as leases, deeds, or trust agreements. Reversionary rights ensure that ownership ultimately returns to the original owner or their designated heirs once the temporary use or interest in the property ends.