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Voluntary Conveyance

   Also found in: Dictionary/thesaurus, Legal 0.01 sec.
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.


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90-16, a taxpayer is treated as having sold or exchanged property when he or she transfers property to a creditor in discharge of debt, regardless of whether the transfer is a voluntary conveyance by deed or an involuntary foreclosure.
154) A trustee in bankruptcy has specific power to abandon negative assets under federal law, (155) and the analogy is not completely applicable to a voluntary conveyance.
Foreclosure or Voluntary Conveyance The tax effect of a foreclosure or voluntary conveyance to the creditor depends on whether the debt is recourse or non-recourse.
 
 
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Voluntary Closure of the Soft Palate
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Voluntary Cooperation Programme
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Voluntary Correction of Operational Failures Standardized
Voluntary Correction of SEP Failures
Voluntary Correction of Tax-Sheltered Annuity Failures
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Voluntary Corrective Action Plan
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