Mortgages Analyzed
Mortgages Analyzed
Mortgages Analyzed
 
Reconveyance Deed

What is Reconveyance Deed?

Definition
Reconveyance Deed certifies that the lender or the trustor has released its lien and conveyed all rights and interest in the real estate to the borrower upon the full repayment or discharge of loan.
What It Means
When the borrower obtains a loan against the property, the lender places a lien on the property. The lien represents the lender's equitable ownership of real estate. Once the borrower has paid off his/her loan, the lender releases its lien on the property and reconveys full title to the borrower. Reconveyance Deed is the legally accepted document where the lender or trustor is giving up its lien and all other claims it may have on the property. The title to the property is now free and clear. To perfect the reconveyance, the deed should be recorded.
Other Names
Deed of Reconveyance
Category
Document

Related Terms

  • Quit Claim Deed: Quit Claim Deed is a document used by a person (Grantor) to disclaim all rights and interest in a real estate property to another person without provi... Read More
  • Sale Deed: Sale Deed is a document used by a person (Grantor) to convey all rights and interest in a real estate to another person without providing any guaranty... Read More
  • Deed: A deed is used for conveyance of rights and interest rights in a real estate.... Read More
  • Interspousal Grant Deed: Interspousal Grant Deed is used for conveyance of rights and interest rights in a real estate between spouses.... Read More
  • Grant Deed: Grant Deed is a document where a person (Grantor) conveys all rights and interest in a real estate to another person and, in some cases, warrants agai... Read More
Source :www.MortgagesAnalyzed.com

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