Which term refers to the relative difficulty of converting an asset to cash without losing value?

The term that refers to the relative difficulty of converting an asset to cash without losing value is liquidity. Liquidity is a crucial concept in finance and real estate, as it indicates how easily an asset can be sold or converted into cash. A highly liquid asset, such as cash itself or stocks, can be quickly sold with little to no loss in value. On the other hand, real estate, collectibles, or other similar investments may take longer to sell and could depreciate in value during the selling process, making them less liquid.

Reliction relates to the gradual recession of water, which can affect land ownership and property boundaries but does not pertain to asset conversion. Situs refers to the location of a property and its value based on geographical and economic factors, rather than its liquidity. Air rights refer to the legal ability to use the space above a property, which is related to land usage rights and not to the ease of converting an asset into cash.