involuntary conversion

Definition of "involuntary conversion"
  1. The change from one property to another as a form of compensation due to circumstances such as theft, destruction, appropriation, or legal taking of the original property
How to use "involuntary conversion" in a sentence
  1. After the theft, an involuntary conversion occurred when the insurance company provided a replacement vehicle.
  2. Due to the condemnation of the building, the property owner had to go through an involuntary conversion to receive another property.
  3. Involuntary conversion takes place when property is destroyed and the insurance payment is used to acquire replacement property.

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