Request For Full Reconveyance
What is request for full reconveyance?
A request for full reconveyance refers to the process of transferring the title of a property from the lender to the borrower, once the mortgage or loan has been fully paid off. It serves as proof that the borrower has fulfilled their obligations and has the right to claim full ownership of the property.
What are the types of request for full reconveyance?
There are two types of request for full reconveyance:
Voluntary reconveyance: This type of request occurs when the borrower proactively contacts the lender to initiate the reconveyance process and provide all the necessary documents.
Involuntary reconveyance: This type of request is usually initiated by the lender when the borrower has failed to repay the loan according to the agreed terms. The lender may start the process of reconveying the property to regain ownership and recover the outstanding debt.
How to complete request for full reconveyance
To complete a request for full reconveyance, follow these steps:
01
Gather necessary documents: Collect all the relevant documents, including the original loan agreement, payment receipts, and any other paperwork related to the loan or mortgage.
02
Contact the lender: Reach out to the lender, either through phone or email, to notify them of your intention to request a full reconveyance.
03
Submit required forms: The lender will provide you with the necessary forms to complete the request. Make sure to fill them accurately and provide all the requested information.
04
Pay any outstanding fees: Depending on the terms of your loan agreement, you may need to pay any outstanding fees or penalties before the reconveyance process can be completed.
05
Wait for confirmation: The lender will review your request and verify the provided information. Once everything is in order, they will issue a reconveyance deed or release of lien, officially transferring the title of the property back to you.
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