  Dielectron production in reactions $\pi^- p \rightarrow n e^+e^-$ and $\pi^-
p \rightarrow n e^+e^- \gamma$ at energies less than 1 GeV is studied assuming
electron-positron pair production to occur in the virtual time-like photon
splitting process. Theoretical predictions of the effective mass distribution
of dielectrons and their angular dependence are presented. Extraction of the
electromagnetic form factor of baryon transition in the time-like region from
future experiments of the HADES Collaboration is discussed.
