In most jurisdictions, sale of the property to a third party is illegal in order to avoid claims on that property by creditors. The creditor removes the stigma of default in making such a conveyance.įraudulent Voluntary Conveyance to Avoid Creditors The lender is able to accept title conveyance and then sell the property.ĭepending on local regulations, the applicant can then have the right to file an insurance claim to recover any remaining deficiencies. To prevent default and the impact it has on the credit history of the borrower, certain delinquent borrowers may willingly forward the property to the lender. The following is a common volunteering scenario: The lack of adequate consideration given to the seller distinguishes voluntary conveyance, however.Ĭonsideration is a legal term relating to the consideration given in exchange for the property at issue. Like any real estate transaction, the voluntary conveyance is a type of voluntary transfer of property. Without it, the transporter should be prepared to provide a valid reason for the move. Consideration refers to the value that is required for the property in return. False Friends: “decree” vs.Voluntary transfer refers to an elective transfer of title from one person to another without proper consideration.Anglicismos in Legal Spanish: Do we really need them? January 27, 2022.Legal English for Spanish-speakers (23).Expressing Civil Law Concepts in Common Law Terms (9).Common words with uncommon legal meanings (21).“Assignment of contract” may likewise denote the transfer of one party’s rights in a contract to a third party (often rendered as cesión de contrato or cesión de la posición contractual). “Assignment” ( cesión) likewise refers to the transfer of rights in property but is most often used in the context of intellectual property rights, as in the “assignment of a patent or trademark” ( cesión de una patente o marca) from an “assignor” ( cedente) to an “assignee” ( cesionario). In this context “conveyancing” may be rendered as compraventa de bienes inmuebles, while “conveyancer” refers to a person who provides conveyancing services ( servicios de compraventa de bienes inmuebles).The parties to a conveyance are the “buyer” and “seller” and, less often, the “vendor” and “vendee.” In insolvency proceedings or in other contexts, there may an attempt to conceal assets by transferring them to a third party, often referred to as a “fraudulent conveyance” ( enajenación fraudulenta) or “conveyance in fraud of creditors” ( enajenación en fraude de acreedores). In this context “conveyance” also refers generally to the transfer of property or property rights, but along with the variant “conveyancing,” the term is used, particularly in the UK, to denote the transfer of title to real property ( bienes inmuebles). “Gift” ( donación) denotes the voluntary transfer of property without compensation from a “donor” or “grantor” ( donante) to a “donee” or “grantee” ( donatario). The parties to a sales contract are the “seller” ( vendedor) and “buyer” or “purchaser” ( comprador). “Sale” ( compraventa) is likewise used to refer to many types of commercial transactions such as the sale of goods ( compraventa de mercancías) or the sale of real property ( compraventa de bienes inmuebles), among many others. “Transfer” is likewise often used specifically in the context of transferring shares ( transmisión de acciones) from a “transferor” ( transmitente) to a “transferee” ( adquirente), and it is common to speak of the “transferability of shares” ( transmisibilidad de las acciones). In the context of property law and sales transactions in general, “transfer” is a generic term denoting different modes of disposing of property or rights in property such as a transfer by sale, gift, conveyance or assignment. Here are a few of their meanings and how they are used: These apparent “legal synonyms” are usually not interchangeable.
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