Conversion

A Conversion is generally a characteristic of funds that enables investors to convert from one type of fund class to another more favorable one. While it often can come about in different legal forms, Conversion is a civil issue between two individuals. In terms of real estate specifically, Conversion can be defined as an interference of an owner’s right over his or her intrinsic property. Conversion generally involves the unlawful apportion of another’s property or an assumed bias opinion of the the right over another’s property. Sometimes a person will be given the property for a certain purpose and without the permission of the owner, they use it for another purpose. A Conversion of any kind that occurs after a person procures legal proprietorship of the property is reasonable, however, a failure to return that property is indicative of Conversion. This can happen if someone simply moves into a house while someone else is gone or starts building on property that is not actually theirs. The changing functionality of real property to personal property (or personal property to real property) is another way that Conversion may be illustrated in real estate. In order to clear this situation, it is necessary for the person who does own the property to present the necessary paperwork stating ownership (such as the deed to the house or to the property).