Definitions of conversion

equitable conversion occurs when one form of property is converted into another in order to fulfill the demands of equity

She was able to inherit the land her father bought before his death, even though he had not yet paid for it as there was an equitable conversion of the money into land when her father agreed to buy the land.

a change in form, e.g. a preference share being changed to an ordinary share

A shareholder's request for a conversion of shares must be presented to the company in writing.

a tort (=civil wrong) in which a person converts someone else's property to their own. This can be compared with the crime of theft, and occurs when one person treats someone else's goods as their own, holds onto any property that accidentally comes into the convertor's possession or deliberately gives the impression that the property belongs to them

He was sued for conversion after refusing to return the profits made from wood found on the plaintiff's land.