Define: Conversion Property

How is Conversion Property defined in a legal contract?

• Conversion Property means real estate that holds a building, within two years before the development of a common interest community, was occupied fully or partially by people other than buyers and those who occupy with the consent of buyers. Seen in 19 SEC filings
• Conversion Property means real estate with a building that was occupied. Seen in 5 SEC filings
• Conversion Property means a certain number of fully paid and nonassessable Class A Units which is the sum of (1) the quotient of the conversion amount with respect to the applicable portion of the loans and any accrued and unpaid interest thereon, including default interest being converted and (2) the conversion price, determined as provided here, in effect at the time of conversion and, to the extent applicable, any additional units. Seen in 2 SEC filings
• Conversion Property means real estate that before the development of a common interest community, was occupied wholly or partially by individuals other than the buyers and people who occupy with the consent of the buyers. Seen in 2 SEC filings
• Conversion Property means real estate where a building is located that at any time within two years before the creation of the common interest community was occupied in whole or in part for residential use or for residential rental purposes by individuals other than the buyers and people who occupy with the consent of the buyers. Seen in 1 SEC filings

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of conversion property' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

Conversion Property means real estate with a building, occupied by non-buyers before the creation of a common interest community.

Relevant Contract Types

• Real Estate Sale Contracts
• Lease Agreements
• Property Deeds
• Co-ownership Agreements

Relevant Circumstances

• Formation of housing or property cooperative societies
• Disposal or acquisition of property assets
• Planning or developing residential or commercial complexes

Relevant Sectors

• Real Estate
• Construction
• Finance

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Genie Definition 2

Conversion Property means Class A Units equal to the sum of a conversion amount and, where applicable, additional units.

Relevant Contract Types

• Investment Agreements
• Shareholder Agreements
• Securities Purchase Agreements

Relevant Circumstances

• Conversion of debt into equity
• Incorporating conversion rights in investment or loan agreements
• Stock purchase or acquisition transactions

Relevant Sectors

• Banking
• Finance
• Private Equity

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