A reversion refers to:

A reversion is a legal term that describes the scenario in which real property returns to the landlord or property owner after the expiration of a lease. This occurs because, while a tenant may have the right to use and occupy the premises during the lease term, the underlying ownership rights remain with the landlord or property owner. Hence, once the lease agreement comes to an end, the landlord has the right to reclaim possession of the property, along with any fixtures that might have been installed by the tenant. These fixtures are considered part of the property and generally remain with the landlord unless otherwise specified in the lease agreement.

In contrast, the other options reflect different legal principles and situations that do not pertain to the definition of a reversion. The right of a landlord to terminate a lease, for instance, pertains to the conditions under which a lease can be legally ended, not to the ownership of the property post-lease. The transfer of property ownership to a new buyer relates to sales transactions and property transfers, which is distinct from lease agreements. Lastly, the renewal of a lease agreement deals with extending an existing lease rather than ownership rights reverting back to the landlord once the lease expires.