Wood v. Donohue

Painter, Judge.

This case involves the ancient doctrine of equitable conversion of real estate— when a contract for the sale of real property is signed, equitable title passes to the buyer. Here, the sale involved a land installment contract. The trial court, presumably relying on the doctrine of equitable conversion, held that the buyer’s equitable estate in the land was equal to the amount of the purchase money the buyer had paid as of December 18, 1994 (the date a third party determined the property had been diminished in value). While appellant Steven B. Donohue (the buyer) and appellee…