reconveyance

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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 ?
189) Notice that the government could not reconvey the property to a religious group or it would find itself in the same bind, unable to enforce land use regulations against the owner of the property because of RLUIPA's zoning provisions.
The penalty was certainly significant, but the hours spent tracking down the assignment and answering the various complaints had to cost even more than the $9,000 penalty for the innocent firms trying to reconvey the property for the borrower.
The expectation that each would immediately reconvey these shares to the donor's family members was sufficient evidence that no donative intent existed in favor of these recipients.
If Barrick elects to reconvey the properties purchased at the end of the initial two year period, then all of Barrick's interest in Gold Bar will be reconveyed to Atlas, which will regain 100% ownership interest in the claim block.
The Farmout Agreement provides that Smith will reconvey all of the drillsites to Inland once Smith has recovered from production an amount equal to 100% of its expenditures, including management fees and severance and production taxes, plus an additional sum equal to 18% per annum on such expended sums.
Under terms of the previous agreements, Highwood was obliged to reconvey to Calabras and Lutoda a 30 percent interest in the Thor Lake property if it did not reach commercial production by December 31, 2000.
In addition, the arbitrator ordered that Sharmhill and Stern reconvey all rights to the picture to Dove and held that because Stern's and Sharmhill's breach was a major breach, the agreement was terminated as to all parties.
Customers who acquire VS computers and hardware upgrades from Wang acquire full title, including the right to reconvey the hardware to anyone, including those who sell used computer systems.
The company has decided to reconvey its right, title and interest in the subject TCAS I technology to Avion and eliminate any further royalty obligations.
Buy and resell to occupants: The Stabilizing Urban Neighborhoods (SUN) program of Boston Community Capital acquires foreclosed properties out of REO at discounted (present-market value) prices and reconveys them to existing owners and tenants and provides financing through 30-year fixed-rate mortgages, stopping the displacement of families before evictions occur.
The mortgagor either voluntarily or involuntarily reconveys the property to someone else (mortgagee), or the mortgagor abandons the property and the mortgagee exercises its lien and repossesses the property.