Reconveyance


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Reconveyance

The transfer of real property that takes place when a mortgage is fully paid off and the land is returned to the owner free from the former debt.

reconveyance

n. in those states which use deeds of trust as a mortgage on real property to secure payment of a loan or other debt, the transfer of title by the trustee (which has been holding title to the real property) back to the borrower (on the written request of the borrower) when the secured debt is fully paid. Under the deed of trust the borrower transfers title in the real property to the trustee (often a title or escrow company) which holds it for the benefit of the lender (called "beneficiary"). The lender must surrender the promissory note to the trustee who cancels it and then reconveys title and records the reconveyance. (See: deed of trust)

References in periodicals archive ?
Since then, he says, Countrywide's automated systems have streamlined basic servicing functions, such as preparing reconveyances, providing borrowers with payoff information, or locating and releasing loan documents.
The IRS also disregarded the significance of the fact that the reconveyance was due to a rescission upon the county's discovery of contamination.
When the mortgagor is solvent and personally liable, the outstanding debt is considered realized to the extent of the property's fair market value at the reconveyance, foreclosure or abandonment date.
CAL-WESTERN RECONVEYANCE CORP COMMONWEALTH UNITED MORTGAGE 3/13/2009 $202,551 Address unknown
These skirmishes are occurring over broker compensation arrangements, private mortgage insurance, escrow calculations, force-placed hazard insurance, truth-in-lending and fair lending practices, lien release and reconveyance procedures, and every kind of fee or so-called add-on ever charged a borrower for anything tied to the origination or servicing of a loan.
In his new role, Hill will provide executive leadership for Prommis subsidiaries Cal-Western Reconveyance Corporation, Reliable Posting & Publication Company and Interface, Inc.
One emerging area in this field is the use of private transfer fees (also called reconveyance fees) to allocate increasing development costs and fund infrastructure.
CAL-WESTERN RECONVEYANCE CORPORATION CITIBANK 2/3/2009 $399,270 2127 LAW LN, EUGENE, OR 97401
In 1987, the California attorney general sponsored an amendment to the California Civil Code Section 2941, citing numerous complaints from the public on reconveyance matters.
The fact that these recipients, after receiving the shares, refused to take the second step in the overall scheme did not change the fact that it had been the donor's intention that they would participate in the reconveyance.
ATLANTA -- Cal-Western Reconveyance Corporation, a Prommis Solutions Company specializing in foreclosure, reconveyance and post-foreclosure services, today announced the successful opening of a new regional office in Las Vegas.
A private transfer fee covenant (also called a reconveyance fee covenant) assesses a "transfer fee" each time title to the real property transfers.