involuntary conversion
- 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
- After the theft, an involuntary conversion occurred when the insurance company provided a replacement vehicle.
- Due to the condemnation of the building, the property owner had to go through an involuntary conversion to receive another property.
- Involuntary conversion takes place when property is destroyed and the insurance payment is used to acquire replacement property.
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