Reconveyance | Propertylogy

Reconveyance

By on September 21, 2019

Reconveyance describes the process in which a mortgage debt is fully repaid or settled, and the property is conveyed back to the mortgager who is released from the debt.

This basically means that the home owner is now the sole owner of the property without liens against it.

Whether the term reconveyance is used to describe this process depends on the legal structure in which the mortgage was arranged.

For example, in deed of trust states, the term deed of reconveyance is commonly used to describe the document for such procedure. Sometimes it’s also referred to as a release deed.

The legal document used for the transfer of title, or conveyed, back to the trustor (borrower).

Do check with a real estate attorney when unsure about legal jargon as they are in the best position to know what terms refer to what in the local legislation.


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