Conversion involves the intentional interference with another's property, demanding compensation for its full value. It can include embezzlement and pertains to both tangible and intangible assets.
Conversion is the intentional exercise of dominion or control over another's personal property, seriously interfering with the owner's right to control, requiring payment for the full value of the property. This can include scenarios such as embezzlement where the property is appropriated for personal use without permission.
Common instances of conversion may involve situations where someone unlawfully takes control of tangible items like jewelry, vehicles, or electronics, or intangible assets such as stocks and bonds. Conversion typically pertains to both real and personal property and could lead to legal consequences under theft statutes.
Embezzlement, a form of conversion, occurs when someone entrusted with another person's property unlawfully appropriates and uses that property for personal gain. To establish conversion, it needs to be proven that there was intentional interference with the rightful owner's property rights, leading to the need for recompense.
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