Alice transfers a plot of land to Bob on the condition that it be used solely for agricultural purposes. The deed specifies that if the land is no longer used for farming, ownership will return to Alice without any further action. What type of future interest does Alice retain in this conveyance?
Alice retains a possibility of reverter, which is a future interest automatically triggered to return the property to the grantor if a specified condition, such as the cessation of agricultural use, occurs.
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What are the implications of a condition in property transfer?