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 ?
They also demanded the reconveyance of their three-fourth share in the property, their exercise of their right of redemption of Enri's one-fourth share.
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. The legal theories asserted depend in part upon the type of activity targeted.
She leads investor-facing operations, including overallowable requests, extension requests, reconveyance resolution, and review of new guide-lines and regulations.
(3) Fee simple and resale of rights and interests, which may be defined as the acquisition of real property in fee simple and the subsequent reconveyance of rights and interests in such property to the former owner or to others, subject to the provisions of section 6304 of this title and to specified covenants, restrictions, conditions or affirmative requirements fixed by the legislative body of the municipality, the qualified organization, or the state agency in its discretion and designed to accomplish the purposes set forth in section 6301 of this title.
For purposes of this definition, a prepayment penalty would not include, for example, fees imposed for preparing and providing documents in connection with prepayment, such as a loan payoff statement, a reconveyance, or other document releasing the creditor's security interest in the one-to-four family property securing the loan.").
reconveyance of leases as part of rescission); Sharabianlou v.
Cal-Western Reconveyance Corporation, to Aurora Loan Services LLC; 2880 Blacktail Dr, Eugene, 97405; $970,907.
Reconveyance of access rights could also occur when access is permitted for a new use, perhaps with mitigation required, such as a turn lane or traffic signal.
Indiana's new law, sponsored by Senator John Broden, allows homeowners to rescind contracts with foreclosure consultants and foreclosure reconveyance agreements.
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. (17)
181, in which the taxpayer had an obligation to accept reconveyance of the land if buyer was unable to obtain rezoning of the land rezoned for business purpose.
The Governor may also approve conveyance of land "to an authorized, recognized religious society, of sufficient land for erection thereon of a church, or dwelling house for the pastor, or both; provided, that the reconveyance and retransfer of such land shall be to native Samoans only and in the discretion and upon the approval of the Governor." Id.