Legal Definitions - conveyor

A conveyor is the individual or entity that legally transfers ownership or a specific legal interest in property to another party. This transfer typically involves formal documentation to ensure the new owner or interested party (known as the "conveyee") has clear rights to the property.

Here are some examples to illustrate this concept:

• Example 1: Residential Property Sale

  When David sells his suburban house to Maria, David is the conveyor. He legally transfers the title and all associated ownership rights of the house to Maria through a signed deed and other closing documents. Maria, in this scenario, is the conveyee.

• Example 2: Inheritance of Land

  Following the passing of their grandmother, the executor of her estate formally transfers a plot of undeveloped land to her grandson, Alex, as stipulated in her will. In this situation, the executor, acting on behalf of the grandmother's estate, is the conveyor, as they are legally transferring the property interest to Alex.

• Example 3: Business Asset Transfer

  A startup company, "Bright Ideas LLC," decides to sell its proprietary software code to a larger tech firm, "Apex Solutions Inc." Bright Ideas LLC is the conveyor because it is legally transferring its intellectual property rights and ownership of the software code to Apex Solutions Inc. through a formal assignment agreement.