reconveyance

Act of reconveying.

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

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.

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.