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[kevin oleary]
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LSDefine
Simple English definitions for legal terms
secondary conveyance
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A quick definition of secondary conveyance:
A secondary conveyance is when someone transfers a property right or ownership to another person. It usually happens after the first transfer, and it can change or confirm the original agreement. It's like passing a toy to a friend, and then later adding some extra rules or conditions to the game. It can be done with a special document called a deed.A more thorough explanation:
A secondary conveyance is a type of transfer of property or rights that follows an earlier conveyance and serves to alter, confirm, enlarge, restrain, restore, or transfer the interest created by the primary conveyance. It is also known as a derivative conveyance or derivative deed.
For example, if John sells his house to Jane and then Jane sells the same house to Tom, Jane's sale to Tom is a secondary conveyance because it follows the primary conveyance from John to Jane.
Another example is a mortgage, which is a conditional conveyance that serves as a secondary conveyance to the primary conveyance of the property from the seller to the buyer.
Overall, a secondary conveyance is a legal term that refers to a transfer of property or rights that follows an earlier transfer and serves to modify or transfer the interest created by the primary transfer.