reconveyance

View more Business & Finance videos

Transaction when a mortgage debt is retired . The lender conveys the property back to the equity owner, free of the debt.

Previous:	Reconsign, Reconditioning Property, Reconciliation
Next:	Record, Recording, Records Management

Occurs when a mortgage debt is retired . The lender conveys the property back to the equity owner, free of the debt.


Example: The reconveyance took place after Abel paid off the loan; Abel promptly recorded the reconveyance instrument.

Previous:	Reconstructed Operating Statement, Reconfiguration
Next:	Recorder, Recording

This entry contains information applicable to United States law only.

The transfer of real property that takes place when a mortgage is fully paid off and the land is returned to the owner free from the former debt.