Business Definition for: voluntary conveyance
voluntary conveyance
voluntary conveyance
sale
or transfer of property without being forced to do so. Contrast with involuntary acts, such as
condemnation
or threat of condemnation.
Related Terms:
process by which a homeowner who has not made timely payments of principal and interest on a mortgage loses title to the home. The holder of the mortgage, whether it be a bank, a savings and loan, or an individual, must go to court to seize the property, which may then be sold to satisfy the claims of the mortgage.
Copyright c 2006, 2000, 1997, 1993, 1990 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.