California Substitution of Trustee and Deed of Re conveyance are legal documents that are used in the state of California to transfer the ownership of a mortgaged property from one lender to another. The Substitution of Trustee document transfers the responsibility of managing the loan from the original lender to the new lender, while the Deed of Re conveyance document is used to transfer the legal title of the property from the original lender to the new lender. There are two types of California Substitution of Trustee and Deed of Re conveyance: Non-judicial and Judicial. Non-judicial Substitution of Trustee and Deed of Re conveyance are used when the property owner is in default on their mortgage and the loan is secured by a Deed of Trust. The Non-judicial process requires the parties to the transaction to sign the documents, and then they are recorded in the county recorder's office. Judicial Substitution of Trustee and Deed of Re conveyance are used when the property owner is in default on their mortgage and the loan is secured by a mortgage. The Judicial process requires the lender to go to court and obtain a court order authorizing the transfer of the loan to the new lender. Once the court order is obtained, the documents are recorded in the county recorder's office.
Substitution Of Trustee And Full Reconveyance Meaning
Description Substitution Of Trustee And Deed Of Reconveyance
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