Voluntary Conveyance


Also found in: Dictionary, Legal.

Voluntary Conveyance

1. The sale of real estate without regard for its value. For example, one may voluntarily convey a house if one sells it for $1. Voluntary conveyance may be a form of fraud under some circumstances.

2. A situation in which one gives real estate to the bank holding the mortgage on that real estate. Voluntary conveyance is done if the owner of the real estate can no longer make payments and wishes to avoid foreclosure.
References in periodicals archive ?
voluntary conveyance, abandonment) or by process of law (including foreclosure proceedings by judicial sale or by power of sale in the loan agreement, strict foreclosure, foreclosure by entry and possession, by writ of entry, or by publication of notice).
In one Virginia case, the court said, "A contingent liability is as fully protected against fraudulent and voluntary conveyances as a certain and absolute claim, and whoever has a claim arising out of a preexisting contract, although it may be contingent, is a creditor whose rights are affected by such conveyances and can avoid them when the contingency happens upon which the claim depends.
Full browser ?