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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Note that even if the government could reconvey the property, thereby recovering some of its purchase price, it would still have to shoulder the cost of any diminution in value due to the zoning, an amount that can be substantial.
(107) He concluded: "If the Constitution excluded the States from making any law regulating commerce, certainly Congress cannot regrant, or in any manner reconvey to the States that power." (108)
A taxpayer may initiate contact with the mortgage company, reconvey title to the mortgagee, and vacate the premises.
When a previously imposed access control is no longer necessary because of changes in traffic management, a road authority may be willing to reconvey access rights previously purchased.
It then must offer to reconvey the property to the former owner so long as the owner "is ready, willing, and able to pay all back taxes, interest, costs and penalty" as defined by statute.
The trust is remedial in the sense that the only obligations imposed on the recipient are to reconvey the property to T (or to the replacement T) and to preserve the property pending reconveyance.
Because the parents had reserved to themselves a life estate, remainder to the son, the effect of frustration would be to reconvey the remainder interest to the mother (the surviving parent); in effect, the farm would return to the parents.
On Feb.8, 1996, the heirs of Santiago Suico filed a civil suit against the government for its refusal to reconvey the properties, which informal settlers began to possess.
The failure to select option one results in a tacit agreement that the loan is not valid and a tacit appointment of the sovereign as attorney in fact to reconvey the mortgage.
An alternative approach to establishing affirmative asset partitioning without organizational law might be to transfer ownership of those assets to the manager(s) of the business, subject to a contractual commitment by the manager, acting as agent for the owners, to manage the assets for the exclusive benefit of the owners and to reconvey the assets to the owners under appropriate circumstances.
The effect of the clause is to reconvey property from the transferee back to the transferor.