Definition of "Conversion"

Paul  Tangalan real estate agent
Paul Tangalan, Real Estate Agent La Rosa Realty In Clermont

Transfer of personal property or real estate of a certain type to property of a different type.

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Comments for Conversion


Jack Miller Jack Miller said:

What's the difference between 'conversion' and 'commingling'?

Jun 10, 2019  23:12:52

 
Real Estate Agent

Hello, Jack! First of all, you have to know that both are illegal. When we speak about conversion in real estate, we say that a real estate agent or broker used his clients' money to cover his expenses. He/She changed the destination of the funds.  When a real estate agent is accused of commingling of funds, it means that he/she didn't keep client's money into a separate account, but mixed his/her own funds with earnest money, for example. We hope you find this answer useful. Please continue to explore our glossary for more definitions of real estate terms

Jun 11, 2019  09:43:32
 

 

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