  Fractional revival is a quantum transport phenomenon important for
entanglement generation in spin networks. This takes place whenever a
continuous-time quantum walk maps the characteristic vector of a vertex to a
superposition of the characteristic vectors of a subset of vertices containing
the initial vertex. A main focus will be on the case when the subset has two
vertices. We explore necessary and sufficient spectral conditions for graphs to
exhibit fractional revival. This provides a characterization of fractional
revival in paths and cycles. Our work builds upon the algebraic machinery
developed for related quantum transport phenomena such as state transfer and
mixing, and it reveals a fundamental connection between them.
