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 ?
(189) Notice that the government could not reconvey the property to a religious group or it would find itself in the same bind, unable to enforce land use regulations against the owner of the property because of RLUIPA's zoning provisions.
After all, the law might quite reasonably say, instead, that an effort to transfer formal title in an asset from a principal to an agent, when that agent remains subject to the control of the principal and to a promise ultimately to reconvey the asset and the title to the principal, does not succeed in changing the legal character of that asset as property of the principal rather than of the agent, at least for purposes of creditors' rights.
By a bizarre twist of events, Uela reneged to honor her promise to reconvey the portion she sold to Centa.
(16.) See FAIRFAX & GUENZLER, supra note 8, at 21 (describing the five basic techniques land trusts use: purchase of land, acceptance of donations of land, purchase of conservation easements, acceptance of donations of conservation easements, and the acquisition of land or conservation easements to later reconvey to another organization); LAND TRUST ALLIANCE, supra note 11, at 1 (explaining the various ways a land trust can be involved in conservation, including purchase or acceptance of donations of land or conservation easements, managing land, and acting as a middle man in conservation negotiations); infra notes 19-31.
But she and other lenders say that local HUD offices, at times, "threaten to reconvey" homes if a servicer appeals to HUD's Washington, D.C., office about decisions made by a local office.
When it does, the easy answer is to first withdraw the property from the trust and then reconvey it to the intended donees.
LimA| [is] directed to return and reconvey to the [government] all funds and properties acquired through the canceled TLAsA|, the court said.
In the state where this mortgage was held, the beneficiary of the loan is allowed 60 days to reconvey the property.
Finally, the court noted that the refusal of two of the 29 recipients to reconvey the stock back to the corporation was not determinative.
The government shall reconvey these to the trust fund committee to be chaired by the sitting President, he said.
Panelo determined that the assignment of the passport printing services to UGEC was illegal and demanded that all rights over all the personal data, source code, data centre and other information relating to the performance of the E-passport printing services unlawfully subcontracted to UGEC be reconveyed to the DFA or be acknowledged to be exclusively owned and controlled by the DFA," Yasay said.
The high tribunal declared that the CIIF is a "public fund," which means the firms created through it, including all their assets must be reconveyed to the government.