Reconveyance of Trust Deed
What is Reconveyance of Trust Deed?
Reconveyance of Trust Deed releases the trustor's lien and conveys all rights and interest in the real estate to the borrower upon the full repayment or discharge of loan. It is same as the Reconveyance Deed, but used in certain jurisdictions where a Deed of Trust was used to secure the 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 of Trust Deed releases the lien that the trustor had and conveys all rights and interest in the real estate to the borrower.
- Deed: A deed is used for conveyance of rights and interest rights in a real estate.... Read More
- Reconveyance Deed: 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 borrow... Read More
- Reconveyance: Reconveyance is the process where the borrower or trustor, who is the equitable owner of the real estate, obtains back all the all rights and interest... Read More
- Release of Mortgage: Release of Mortgage releases the lender's lien and conveys all rights and interest in the real estate to the borrower upon the full repayment or disch... Read More
Know all there is to know about the US Mortgage Industry. We help you to make a well informed decision.
Confused about the choosing right loan product for you? We help you decide the loan product that suits your needs best.
Here you will find all there is to know about the forms, papers & documents required for Home Loan Mortgage and much more.