reconveyance


Also found in: Dictionary, Legal.

reconveyance

When a mortgage debt is retired,the lender conveys (transfers) the property back to the borrower in a title state.

References in periodicals archive ?
In fact, the IRS continues to refer to the reconveyance as a "purchase," as it did in TAM 9541005.
Income-producing property not subject to basis-reducing depreciation (for example, undeveloped land) may have an adjusted tax basis that exceeds the outstanding debt at the reconveyance, foreclosure or abandonment date.
They extend from the earliest stages of loan origination and broker compensation, through every phase of loan administration into default servicing, and even the procedures followed in issuing payoff statements, mortgage releases and deed-of-trust reconveyances.
CAL-WESTERN RECONVEYANCE CORPORATION MERRILL LYNCH FIRST FRANKLIN MORT 2/6/2009 $222,320 1153 ARCADIA DR, EUGENE, OR 97401
Despite effective action by some lenders and good intentions by more, the current backlog of reconveyance paperwork is certainly huge.
CAL-WESTERN RECONVEYANCE CORPORATION FFMLT TRUST 1/5/2009 $106,096 18915 HWY 126, WALTON, OR, 97490
interest on its purchase price at Monolith's cost-of-funds) to the then-anticipated closing date for a reconveyance.
The IRS previously ruled that no gain is recognized on the sale of land by a taxpayer who accepts reconveyance of the land and returns the buyer's funds in the tax year of sale.
This combination of tools has refined the business process from payoff to final mortgagor notification by increasing throughput by as much as 100% and reducing reconveyance time to the minimum.
In contrast, a private transfer fee (also called a reconveyance fee) can be used to more fairly apportion costs and lower the initial purchase price.
With last year's record payoff activity, the reconveyance unit got swamped.
Cal-Western Reconveyance Corporation (CWRC), a Prommis Solutions Company, announced that it was awarded the LPS Default Solutions Performance Excellence Award, recognizing its "best-in-class" status for 12 consecutive months (April 2008 - March 2009) on its California foreclosure portfolio.