Which estate represents the interest of a landlord in a leasehold arrangement?

In a leasehold arrangement, the landlord holds a reversion estate. This estate signifies the landlord's interest in the property once the lease term concludes. Specifically, when the lease expires or is terminated, ownership and control of the property revert back to the landlord, thus giving them the right to re-lease or occupy the property themselves.

This concept is critical in real estate because it outlines the relationship between the landlord and the tenant, indicating that while the tenant has the right to occupy the property for a specified period, the ultimate ownership and rights are retained by the landlord until the lease ends. Recognizing the reversion estate is essential for understanding the dynamics of landlord-tenant relations, property rights, and the duration of interests in real estate.

The other estates mentioned do not fit this context; for instance, a remainder estate pertains to a future interest that will take effect after a life estate ends, while a fee simple estate represents full ownership of a property with no limitations. A life estate grants use and enjoyment of the property for the lifetime of an individual but does not describe the landlord's retained interest after a lease.