equitable conversion

equitable conversion
The exchange of property from real to personal or from personal to real, which takes place under some circumstances in the consideration of the law, such as, to give effect to directions in a will or settlement, or to stipulations in a contract, although no such change has actually taken place, and by which exchange the property so dealt with becomes invested with the properties and attributes of that into which it is supposed to have been converted. It is sometimes necessary however for certain purposes of devolution and transfer to regard the property in its changed condition as though the change has not absolutely taken place
+ equitable conversion
The doctrine that, since equity regards as done what ought to be done, once parties have executed a binding contract for the sale of land, equitable title vests in the purchaser and the vendor holds legal title only as security for payment of the balance of the purchase price. A doctrine commonly applied when death intervenes between the signing of an agreement to sell real estate and the date of transfer of title resulting in treating land as personalty and personalty as land under certain circumstances. It takes place when a contract for sale of realty becomes binding on parties. Lampman v. Sledge, Tex.Civ.App., 502 S.W.2d 957, 959.
See also conversion

Black's law dictionary. . 1990.

Игры ⚽ Нужно сделать НИР?

Look at other dictionaries:

  • Equitable conversion — is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time he/she signs a contract binding him/her to purchase the land at a later date. The seller retains… …   Wikipedia

  • equitable conversion — see conversion Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • equitable conversion — The exchange of property from real to personal or from personal to real, which takes place under some circumstances in the consideration of the law, such as, to give effect to directions in a will or settlement, or to stipulations in a contract,… …   Black's law dictionary

  • equitable conversion — noun : conversion 3d …   Useful english dictionary

  • equitable conversion — That constructive alteration in the nature or character of property whereby, in equity, real is for certain purposes considered as personalty, or whereby personalty for similar considerations, is regarded as real estate, and in either instance,… …   Ballentine's law dictionary

  • conversion — con·ver·sion /kən vər zhən/ n 1 a: the act of changing from one form or use to another b: the act of exchanging one kind of property for another; esp: the act of exchanging preferred stocks or bonds for shares of common stock of the same company… …   Law dictionary

  • equitable — eq·ui·ta·ble / e kwi tə bəl/ adj 1: having or exhibiting equity: dealing fairly and equally shall allocate...appropriations in an equitable manner U.S. Code 2: existing or valid in equity or as a matter of equity as distinguished from law an… …   Law dictionary

  • Conversion — may refer to: Contents 1 Economy and Finance 2 Law 3 Marketing 4 Religion 5 Sport …   Wikipedia

  • conversion — [kən vʉr′zhən, kən vʉr′shən] n. [ME conversioun < OFr conversion < L conversio < pp. of convertere: see CONVERT] 1. a converting or being converted; specif., a) a change from lack of faith to religious belief; adoption of a religion b) a …   English World dictionary

  • Equitable — Companies*Scottish Equitable, is an investment company located in Edinburgh *Equitable PCI Bank *Equitable Resos *The Equitable Life Assurance Society, life insurance company in the United Kingdom *AXA Equitable Life Insurance Company, formerly… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”