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Legal Definitions - present conveyance
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Definition of present conveyance
A present conveyance is a transfer of a property right or ownership that takes effect immediately, rather than in the future. It is usually done through a legal document, such as a deed, and can involve the transfer of real or personal property.
Examples of present conveyances include:
- A deed transferring ownership of a house from one person to another
- A bill of sale transferring ownership of a car from one person to another
- A gift of property from one family member to another
These examples illustrate the definition of present conveyance because they all involve the immediate transfer of ownership or property rights from one person to another. The transfer takes effect as soon as the legal document is signed and delivered, rather than at some point in the future.
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Simple Definition
A present conveyance is when someone willingly transfers their right or ownership of something to another person. This can be done through a document like a deed, and it can happen immediately instead of in the future. There are different types of conveyances, like absolute conveyance where there are no conditions or qualifications, and conditional conveyance where it depends on something happening, like payment. A present conveyance is a way to transfer property or rights from one person to another.
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