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 legal title of the property prior to the date of conveyance, but this land interest is considered personal property (a right to the payment of money, rather than a right to the property). The risk of loss is then transferred to the buyer – if a house on the property burns down after the contract has been signed, but before the deed is conveyed, the buyer will nevertheless have to pay the agreed-upon purchase price for the land unless the seller in possession or deemed in possession has failed to protect it. Such issues can and s
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| - Equitable conversion (en)
- 형평법상 재산권의 이전 (ko)
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| - 형평법상 재산권의 이전 혹은 형평상의 소유권귀속, 또는 형평법상의 전환의 법리란 부동산 매매계약에서 매매가 완료되기 전에 매수인이나 매도인이 사망하는 경우 또는 목적물이 멸실되는 경우에 매수인에게 형평법상으로 재산권이 이전된 것으로 보는 영미법상의 원칙이다. (ko)
- 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 legal title of the property prior to the date of conveyance, but this land interest is considered personal property (a right to the payment of money, rather than a right to the property). The risk of loss is then transferred to the buyer – if a house on the property burns down after the contract has been signed, but before the deed is conveyed, the buyer will nevertheless have to pay the agreed-upon purchase price for the land unless the seller in possession or deemed in possession has failed to protect it. Such issues can and s (en)
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| - 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 legal title of the property prior to the date of conveyance, but this land interest is considered personal property (a right to the payment of money, rather than a right to the property). The risk of loss is then transferred to the buyer – if a house on the property burns down after the contract has been signed, but before the deed is conveyed, the buyer will nevertheless have to pay the agreed-upon purchase price for the land unless the seller in possession or deemed in possession has failed to protect it. Such issues can and should be avoided by parties by stipulating in the contract who will bear the loss in such occurrences. The above rule varies by jurisdiction, but is the general rule. (en)
- 형평법상 재산권의 이전 혹은 형평상의 소유권귀속, 또는 형평법상의 전환의 법리란 부동산 매매계약에서 매매가 완료되기 전에 매수인이나 매도인이 사망하는 경우 또는 목적물이 멸실되는 경우에 매수인에게 형평법상으로 재산권이 이전된 것으로 보는 영미법상의 원칙이다. (ko)
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