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 ?
EO 180, on the other hand, ordered the immediate transfer and reconveyance of coco levy assets to the government and its utilization after the approval by President Aquino of the "Integrated Coconut Industry Roadmap and the Coconut Roadmap for Coco Levy.
Cal-Western Reconveyance Corporaton, to Pnc Bank National Association; 2155 Ohio St, Eugene, 97402; $225,000.
and Consolidated Reconveyance, a division of Chicago Title Insurance Co.
In an effort to help the sale go forward, you agree to the following terms: you will cancel the note owed by the current owner and will execute a reconveyance of your second trust deed.
Title search, title reconveyance, & title abstract service fees
Claiming that the transactions involving Lot 70 were null and void, the heirs of Teddy and Resty filed a case for reconveyance and damages against against Pacquing, Romy and the banks.
The industry has experienced a marked increase in the number of reconveyance letters citing missing kitchen appliances, faucets, sinks, vanities and light fixtures, so this addition was not unexpected.
com and nonjudicial foreclosures, Little Rock and Fayetteville; bankruptcy representation Memphis, Nashville and for creditors, Knoxville, TN deed-in-lieu, loss mitigation, eviction, real estate litigation, title insurance, title defense and resolution, real estate closings and reconveyance 14 Hilburn Calhoon Harper Centennial Bank, Bank Pruniski Calhoun Ltd.
The Department of Finance (DOF) has welcomed the issuance of an executive order governing the inventory, transfer, reconveyance and disposition of coco levy funds and coco levy assets.
Under an alternative scenario, there would not be any required reconveyance.
Cal-Western Reconveyance Corporation, to Aurora Loan Services LLC; 25225 Rhapsody Ave, Veneta, 97487; $256,486.
section] 45-1502(6) (trustee under deed of trust entitled to reasonable charge for reconveyance service); MICH.