diff --git a/apix/v1alpha2/inferencepool_conversion.go b/apix/v1alpha2/inferencepool_conversion.go
index c470e6281..6f6bc0fbb 100644
--- a/apix/v1alpha2/inferencepool_conversion.go
+++ b/apix/v1alpha2/inferencepool_conversion.go
@@ -104,10 +104,13 @@ func convertStatusToV1(src *InferencePoolStatus) (*v1.InferencePoolStatus, error
 	for _, p := range src.Parents {
 		ps := v1.ParentStatus{
 			ParentRef:  toV1ParentRef(p.GatewayRef),
-			Conditions: make([]metav1.Condition, 0, len(p.Conditions)),
+			Conditions: make([]metav1.Condition, 0),
 		}
 		for _, c := range p.Conditions {
 			cc := c
+			if isV1Alpha2DefaultConditon(c) {
+				continue
+			}
 			// v1alpha2: "Accepted" -> v1: "SupportedByParent"
 			if cc.Type == string(v1.InferencePoolConditionAccepted) &&
 				cc.Reason == string(InferencePoolReasonAccepted) {
@@ -115,11 +118,21 @@ func convertStatusToV1(src *InferencePoolStatus) (*v1.InferencePoolStatus, error
 			}
 			ps.Conditions = append(ps.Conditions, cc)
 		}
+		if len(ps.Conditions) == 0 && len(src.Parents) == 1 {
+			// Reset the conditions to nil since v1 version does not have default condition.
+			// Default is only configured when length of src.Parents is 1.
+			ps.Conditions = nil
+		}
 		out.Parents = append(out.Parents, ps)
 	}
 	return out, nil
 }
 
+func isV1Alpha2DefaultConditon(c metav1.Condition) bool {
+	return InferencePoolConditionType(c.Type) == InferencePoolConditionAccepted &&
+		c.Status == metav1.ConditionUnknown && InferencePoolReason(c.Reason) == InferencePoolReasonPending
+}
+
 func convertStatusFromV1(src *v1.InferencePoolStatus) (*InferencePoolStatus, error) {
 	if src == nil {
 		return nil, errors.New("src cannot be nil")
@@ -133,16 +146,18 @@ func convertStatusFromV1(src *v1.InferencePoolStatus) (*InferencePoolStatus, err
 	for _, p := range src.Parents {
 		ps := PoolStatus{
 			GatewayRef: fromV1ParentRef(p.ParentRef),
-			Conditions: make([]metav1.Condition, 0, len(p.Conditions)),
 		}
-		for _, c := range p.Conditions {
+		if p.Conditions != nil {
+			ps.Conditions = make([]metav1.Condition, len(p.Conditions))
+		}
+		for idx, c := range p.Conditions {
 			cc := c
 			// v1: "SupportedByParent" -> v1alpha2: "Accepted"
 			if cc.Type == string(v1.InferencePoolConditionAccepted) &&
 				cc.Reason == string(v1.InferencePoolReasonAccepted) {
 				cc.Reason = string(InferencePoolReasonAccepted)
 			}
-			ps.Conditions = append(ps.Conditions, cc)
+			ps.Conditions[idx] = cc
 		}
 		out.Parents = append(out.Parents, ps)
 	}
diff --git a/apix/v1alpha2/inferencepool_conversion_test.go b/apix/v1alpha2/inferencepool_conversion_test.go
index 5a828dc37..4191e21ea 100644
--- a/apix/v1alpha2/inferencepool_conversion_test.go
+++ b/apix/v1alpha2/inferencepool_conversion_test.go
@@ -73,6 +73,12 @@ func TestInferencePoolConvertTo(t *testing.T) {
 						{
 							GatewayRef: ParentGatewayReference{Name: "my-gateway"},
 							Conditions: []metav1.Condition{
+								{ // v1alpha2 default condition is skipped from conversion.
+									Type:               string(v1.InferencePoolConditionAccepted),
+									Status:             metav1.ConditionUnknown,
+									Reason:             string(InferencePoolReasonPending),
+									LastTransitionTime: timestamp,
+								},
 								{
 									Type:               string(InferencePoolConditionAccepted),
 									Status:             metav1.ConditionTrue,
@@ -127,7 +133,7 @@ func TestInferencePoolConvertTo(t *testing.T) {
 			wantErr: false,
 		},
 		{
-			name: "conversion from v1alpha2 to v1 with empty extensionRef",
+			name: "conversion from v1alpha2 to v1 with empty extensionRef and default v1alpha2 status condition",
 			src: &InferencePool{
 				TypeMeta: metav1.TypeMeta{
 					Kind:       "InferencePool",
@@ -149,9 +155,9 @@ func TestInferencePoolConvertTo(t *testing.T) {
 							GatewayRef: ParentGatewayReference{Name: "my-gateway"},
 							Conditions: []metav1.Condition{
 								{
-									Type:               string(InferencePoolConditionAccepted),
-									Status:             metav1.ConditionTrue,
-									Reason:             string(InferencePoolReasonAccepted),
+									Type:               string(v1.InferencePoolConditionAccepted),
+									Status:             metav1.ConditionUnknown,
+									Reason:             string(InferencePoolReasonPending),
 									LastTransitionTime: timestamp,
 								},
 							},
@@ -180,14 +186,6 @@ func TestInferencePoolConvertTo(t *testing.T) {
 					Parents: []v1.ParentStatus{
 						{
 							ParentRef: v1.ParentReference{Name: "my-gateway"},
-							Conditions: []metav1.Condition{
-								{
-									Type:               string(v1.InferencePoolConditionAccepted),
-									Status:             metav1.ConditionTrue,
-									Reason:             string(v1.InferencePoolReasonAccepted),
-									LastTransitionTime: timestamp,
-								},
-							},
 						},
 					},
 				},
@@ -300,7 +298,7 @@ func TestInferencePoolConvertFrom(t *testing.T) {
 			wantErr: false,
 		},
 		{
-			name: "conversion from v1 to v1alpha2 with empty extensionRef",
+			name: "conversion from v1 to v1alpha2 with empty extensionRef and nil status condition",
 			src: &v1.InferencePool{
 				TypeMeta: metav1.TypeMeta{
 					Kind:       "InferencePool",
@@ -322,14 +320,6 @@ func TestInferencePoolConvertFrom(t *testing.T) {
 					Parents: []v1.ParentStatus{
 						{
 							ParentRef: v1.ParentReference{Name: "my-gateway"},
-							Conditions: []metav1.Condition{
-								{
-									Type:               string(v1.InferencePoolConditionAccepted),
-									Status:             metav1.ConditionTrue,
-									Reason:             string(v1.InferencePoolReasonAccepted),
-									LastTransitionTime: timestamp,
-								},
-							},
 						},
 					},
 				},
@@ -353,14 +343,60 @@ func TestInferencePoolConvertFrom(t *testing.T) {
 					Parents: []PoolStatus{
 						{
 							GatewayRef: ParentGatewayReference{Name: "my-gateway"},
-							Conditions: []metav1.Condition{
-								{
-									Type:               string(InferencePoolConditionAccepted),
-									Status:             metav1.ConditionTrue,
-									Reason:             string(InferencePoolReasonAccepted),
-									LastTransitionTime: timestamp,
-								},
-							},
+						},
+					},
+				},
+			},
+			wantErr: false,
+		},
+		{
+			name: "conversion from v1 to v1alpha2 with empty extensionRef and empty status condition",
+			src: &v1.InferencePool{
+				TypeMeta: metav1.TypeMeta{
+					Kind:       "InferencePool",
+					APIVersion: v1.GroupVersion.String(),
+				},
+				ObjectMeta: metav1.ObjectMeta{
+					Name:      "test-pool",
+					Namespace: "test-ns",
+				},
+				Spec: v1.InferencePoolSpec{
+					Selector: v1.LabelSelector{
+						MatchLabels: map[v1.LabelKey]v1.LabelValue{
+							"app": "my-model-server",
+						},
+					},
+					TargetPorts: []v1.Port{{Number: v1.PortNumber(int32(8080))}},
+				},
+				Status: v1.InferencePoolStatus{
+					Parents: []v1.ParentStatus{
+						{
+							ParentRef:  v1.ParentReference{Name: "my-gateway"},
+							Conditions: []metav1.Condition{},
+						},
+					},
+				},
+			},
+			want: &InferencePool{
+				TypeMeta: metav1.TypeMeta{
+					Kind:       "InferencePool",
+					APIVersion: GroupVersion.String(),
+				},
+				ObjectMeta: metav1.ObjectMeta{
+					Name:      "test-pool",
+					Namespace: "test-ns",
+				},
+				Spec: InferencePoolSpec{
+					Selector: map[LabelKey]LabelValue{
+						"app": "my-model-server",
+					},
+					TargetPortNumber: 8080,
+				},
+				Status: InferencePoolStatus{
+					Parents: []PoolStatus{
+						{
+							GatewayRef: ParentGatewayReference{Name: "my-gateway"},
+							Conditions: []metav1.Condition{},
 						},
 					},
 				},