In equity. The trans-formation of one species of property into an-other, as money into land or land into money; or, more particularly, a fiction of law, by which equity assumes that such a transformation has taken place (contrary to the fact) when it is rendered necessary by the equities of the case,—as to carry Into effect the directions of a will or settlement,—and by which the property so dealt with becomes invested with the properties aud attributes of that Into which it is supposed to have been converted. Seymour v. Freer, 8 wall. 214, 19 L. Ed. 306; Uaward v. Peuvey, 128 111. 430, 21 N. E. 503, 15 Am. St. Rep. 120
Source: Black’s Law Dictionary 2nd Ed (1910)
