Equitable Conversion
Definition of "Equitable conversion"
This situation applied in some states when death prevents the seller of property, who has signed a real estate sale agreement, from completing the sale. In this situation , equitable conversion mandates the contract is still binding on both the buyer, having signed the sale agreement, as well as the seller's representative. Despite the fact the title has not been conveyed, equitable conversion vests property rights with the buyer.
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