Deed Of Reconveyance Form

Deed Of Reconveyance Form

Deed of Reconveyance is used to transfer title in land back to the borrower from the trustee when the Deed of Trust has been fully repaid. A Deed of Reconveyance is a document that transfers title in the real property to the borrower (Trustor) from the Trustee once the borrower has fully paid the debt secured by a Deed of Trust. In order to clear the Deed of Trust from the title to the property, a Deed of Reconveyance must be recorded with the Country Recorder or Recorder of Deeds. If the trustee fails to record a satisfaction within the set time limits, the trustee may be responsible for damages as set out by statute. A Deed of Reconveyance is used in conjunction with a Deed of Trust and it's purpose is to clear the title of any liens pertaining to the Note and Deed of Trust which secures that note. The parties involved in the Deed of Trust are the Trustor (the Borrower), the Trustee (title company, bank, or third party), and the Beneficiary (the lender). Once a Deed of Reconveyance is recorded, the title becomes clear of the lien. In most cases, the title or escrow company will record the Deed of Reconveyance at the time of closing. It is then returned to the trustee, together with the note. The trustee would then forward the note and deed of reconveyance to the borrower. The beneficiary is generally a lending institution and easy to locate, but it in some cases it may be the previous owner or seller.

Deed Of Reconveyance Form

Deed Of Reconveyance Form

Deed Of Reconveyance Form

Deed Of Reconveyance Form

Deed Of Reconveyance Form

Deed Of Reconveyance Form

Deed Of Reconveyance Form

Deed Of Reconveyance Form

Deed Of Reconveyance Form