17:13
@llama: it would only be 17,000 ish per year
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
primary conveyance
Read a random definition: dilatory
A quick definition of primary conveyance:
A primary conveyance is a legal term that refers to the transfer of a property right or ownership from one person to another. This can be done through various means, such as a deed or lease, and creates an estate or interest in the property. It is different from a secondary conveyance, which only serves to alter or transfer an existing interest. Primary conveyances can be absolute, meaning there are no conditions or qualifications, or conditional, based on the occurrence of an event like payment.
A more thorough explanation:
Definition: Primary conveyance refers to the transfer of a property right or ownership from one person to another. It is the initial transfer that creates an estate or interest in the property. Examples of primary conveyances include feoffment, gift, grant, lease, exchange, and partition.
Examples:
- Feoffment: A feoffment is a primary conveyance where a person transfers ownership of a property to another person without any conditions or qualifications.
- Gift: A gift is a primary conveyance where a person voluntarily transfers ownership of a property to another person without receiving anything in return.
- Grant: A grant is a primary conveyance where a person transfers ownership of a property to another person for a specific purpose or under certain conditions.
- Lease: A lease is a primary conveyance where a person transfers the right to use a property to another person for a specific period of time.
- Exchange: An exchange is a primary conveyance where two parties transfer ownership of their respective properties to each other.
- Partition: A partition is a primary conveyance where co-owners of a property divide the property among themselves.
These examples illustrate how primary conveyances are the initial transfers that create an estate or interest in a property. They are different from secondary conveyances, which only serve to alter or transfer the interest created by the primary conveyance.