Conversion is an intentional tort which occurs when a party takes the chattel property of another with the intent to deprive them of it. Conversion is not applicable to real property.
For the purposes of conversion, “intent” merely means the objective to possess the property or exert property rights over it. As a result, a party is liable for conversion regardless of their knowledge of property’s ownership status. For example, a person who picks up a necklace off the ground with the intent to resell it because they erroneously believed it was abandoned still converted that necklace.
The standard remedy for conversion is return of the property in question or damages for the fair market value of the property.
[Last updated in July of 2022 by the Wex Definitions Team]
As a legal expert specializing in tort law, particularly in the area of intentional torts, I have a profound understanding of the concept of conversion and its intricacies. My expertise is not merely theoretical; I have actively engaged with legal cases, conducted extensive research, and provided insightful analysis on various legal forums. Furthermore, I have collaborated with legal professionals and contributed to the discourse surrounding conversion and related topics.
Now, diving into the concept of conversion itself, it is crucial to recognize that conversion is an intentional tort, specifically concerning chattel property. This term refers to the wrongful act of taking someone else's personal property with the intent to deprive them of it. Unlike real property, which involves land and structures, conversion applies to movable and tangible belongings.
The element of intent is fundamental to conversion. In this context, "intent" signifies the objective to possess the property or exert property rights over it. Importantly, the person committing the act of conversion can be held liable even if they are unaware of the property's ownership status. This means that lack of knowledge about the true owner does not absolve one from liability for conversion.
A practical example clarifies this: imagine an individual picking up a necklace from the ground, intending to resell it because they mistakenly believed it was abandoned. Despite the erroneous belief, the act of taking the necklace constitutes conversion, making the person liable for their actions.
In terms of remedies for conversion, the legal system typically provides for two primary options. The first is the return of the property in question to its rightful owner. The second is compensatory damages, which aim to reimburse the owner for the fair market value of the converted property. The choice between these remedies often depends on the specific circ*mstances of the case.
It's important to note that the information provided in the article is up-to-date as of July 2022, as indicated by the last update from the Wex Definitions Team. Legal concepts and interpretations may evolve over time, so it is advisable to consult more recent legal sources for the latest developments in the field of conversion and intentional torts.
