Deed Of Reconveyance Format

What is deed of reconveyance format?

A deed of reconveyance format is a legally binding document that is used to transfer the title of property from a lender back to the borrower once a mortgage or trust deed has been fully repaid. It serves as proof that the borrower now has full ownership rights over the property.

What are the types of deed of reconveyance format?

There are typically two types of deed of reconveyance formats: 1. Full Reconveyance: This type of reconveyance is used when the borrower has completely paid off the mortgage or trust deed. It transfers the full ownership rights back to the borrower. 2. Partial Reconveyance: In some cases, the borrower may have partially paid off the loan. In such situations, a partial reconveyance is used to transfer a portion of the ownership rights back to the borrower, while the lender still holds a lien on the remaining balance.

How to complete deed of reconveyance format

To complete a deed of reconveyance format, follow these steps: 1. Obtain the original deed of trust or mortgage document. 2. Gather all necessary information, including property details, borrower information, and lender information. 3. Write a clear and concise statement indicating that the loan has been fully or partially repaid. 4. Include any applicable legal descriptions of the property. 5. Sign and date the document in the presence of a notary public. 6. File the completed deed of reconveyance with the appropriate county recorder's office to make it a matter of public record.

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