Deed Of Reconveyance
A document issued by the holder of a mortgage indicating that the borrower is released from the mortgage debt. The deed of reconveyance transfers the title of the property back to the borrower. It is most commonly issued when a mortgage has been paid in full.
The deed of reconveyance is recorded in the county where the property is held. This allows any search on that property to show that liens have been paid in full, which comes in handy if the property is being resold.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
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