Deed of Reconveyance

A Deed of Reconveyance vouches that the debt secured by a deed of trust has been paid in full by the borrower.

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The Deed of Reconveyance's importance is tied to the deed of trust. Another name for this document is a trust deed. It is used as an agreement between a trustor and beneficiary that the party in possession should place the property title in question in a trust. 

This trust is held by a neutral third-party called the trustee. Deeds of trust are not as typical anymore but still used in about 20 states. The Deed of Reconveyance is a document issued by the trustee confirming the borrower paid their debt in full to the beneficiary and now holds the title to the property.

What Is a Deed of Reconveyance?

The Deed of Reconveyance is a vital document to the property owner, showing no liens against the property. The Deed of Reconveyance should indicate the borrowed amount and when the borrower paid the loan in full. It should also contain all relevant information on the property, such as the legal description and parcel number. 

Most importantly, the Deed of Reconveyance should contain the trustee's signature, which officially releases the borrower's property title. 

Other Names for Deed of Reconveyance

Depending on your state, a Deed of Reconveyance may also be known as:

  • Reconveyance Deed
  • Reconveyance of Deed of Trust
  • Full Reconveyance 
  • Release of Deed of Trust 

Who Needs a Deed of Reconveyance?

Any person or entity with a mortgage loan from a bank, title company or any other financial institution needs a Deed of Reconveyance once the loan is paid off. This document ensures the property is officially released from the deed of trust. Having this document makes selling and buying a property less problematic. 

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How to Create a Deed of Reconveyance With 360 Legal Forms

A Deed of Reconveyance is a straightforward document showing a clear transfer of the property title from a trustee to a trustor. As a trustee, you might benefit from having a template of this document expediting the process without compromising accuracy. 

Let 360 Legal Forms help with our extensive library of attorney-vetted legal forms. The process is fast and easy. All you have to do is fill out our easy-to-understand questionnaire. Once complete, simply download your form as a PDF or Word document from your secure online account.

What Information Will I Need to Create My Deed of Reconveyance?

To create your document, please provide:

  • Trustor Details: The full legal name of the borrower. 
  • Trustee Details: The full legal name of the person or entity holding the title of the property.
  • Beneficiary: The name of the financial institution providing the money. 
  • Consideration: The sum given to the trustor by the beneficiary.
  • Legal Description: The reconveyance should contain the official description of the property.
  • Parcel Number: Include the lot number issued to the property.
  • Notary Public: This is the space for the notary public's stamp and signature. 
  • The Effective Date: The date when the Deed of Reconveyance is issued.
  • Signature: Only the trustee needs to sign the document.

Deed of Reconveyance Terms

  • Mortgage: A type of property loan secured by the real property 
  • Deed of Trust: Same as a mortgage with the addition of a third-party neutral party (trustee)
  • Trustor: The person or entity borrowing the money from the financial institution; the borrower
  • Trustee: The person or entity holding the title of the property in the trust 
  • Beneficiary: An entity lending the money (bank, title company, escrow company)
  • Foreclosure Action: The legal proceedings initiated by the beneficiary when a borrower defaults on the loan
  • Lien: A claim or legal right against an asset or assets used as collateral 

Deed of Reconveyance Signing Requirements

When the trustee signs the Deed of Reconveyance, they should do so in front of a notary public. The document should have enough space allocated for the notary's stamp and signature. If you live in Georgia, Michigan, Ohio, South Carolina, Arkansas, or Vermont, you will also need a witness signature. 

What to Do With Your Deed of Reconveyance?

After the Deed of Reconveyance is signed and notarized, you must file it at the local land records office. Depending on the state and county, it can be the County Clerk's Office, Register of Deeds, Land Registry Office, or County Recorder's Office.

Frequently Asked Questions

In terms of what they represent, there is no difference between the two. They are both official documents issued by the mortgager or trustee affirming that the borrower has paid the debt in full and that they are now the only owner of the land or property of concern. However, the difference is that the Deed of Reconveyance is only used when the deed of trust was used, which includes a third-party and is used in some states in lieu of the Mortgage Agreement. Other states may offer both. 

If you are looking to sell a property and you cannot find a Deed of Reconveyance with the records office, which can create a significant issue. The deed of trust continues to be a burden against the property, and that creates further complications. It is the trustee's job to issue the Deed of Reconveyance to the trustor and most states have time limitations for that. But it is the borrower's job to file the Deed of Reconveyance with the county clerk's office. When the debt has been paid in full, it's essential for all parties to perform due diligence and follow through with the paperwork to avoid complications in the future. 

It is not uncommon today for loan refinancing to be the cause for a reconveyance. What happens is that the purchaser of the property chooses to refinance an existing loan and, in the process, pays it in full. This automatically initiates the reconveyance process and the Deed of Reconveyance now belongs to the new beneficiary. This could lead to potential complications once the loan is finally paid in full. 

If there are no issues regarding the Deed of Reconveyance discharge by the trustee and the borrower can file it after, there is no need to hire an attorney. But if any clerical errors ensue and any other related issues, perhaps contacting a real estate attorney licensed to practice law in the state can be beneficial.

All US states recognize interstate notarization so it should not matter. But to be absolutely sure, you may want to contact the County Clerk’s Office.

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