Conversion in real estate refers to various forms of changing the use, ownership, or financing structure of a property. This can include transforming rental apartments into condominiums, involuntary taking of property, changing the ownership structure of financial institutions, or altering the terms of a mortgage.
Proprietorship refers to the ownership of a business, including income-producing real estate, by an individual, as opposed to a partnership or corporation. This ownership structure allows for direct control of property and income but comes with specific risks and benefits.
