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Simple English definitions for legal terms
conveyor
Read a random definition: LRE
A quick definition of conveyor:
A conveyor is someone or something that gives or sells something they own to someone else. This person or thing is called the conveyee. It's like passing a toy to a friend to play with.
A more thorough explanation:
Definition: A conveyor is someone or something that transfers ownership of property to another person or entity, known as the conveyee. This can be done through a legal process called conveyance.
Example 1: John is selling his car to Jane. In this scenario, John is the conveyor because he is transferring ownership of the car to Jane, who is the conveyee.
Example 2: A bank is foreclosing on a house and selling it to a new owner. The bank is the conveyor because they are transferring ownership of the property to the new owner, who is the conveyee.
These examples illustrate how a conveyor is responsible for transferring ownership of property to another party. This can be done through various legal processes, such as a sale or foreclosure. The conveyor is the party that initiates the transfer of ownership, while the conveyee is the party that receives the ownership rights.