County, California, as more fully described below: WHEREAS, the undersigned present Beneficiary desires to substitute a new Trustee under said Deed of Trust. A substitution of trustee and full reconveyance serves two purposes: It enables a lender (such as a mortgage company) to appoint a new trustee.A document known as a substitution of trustee and full reconveyance identifies the person who has the authority to reconvey the property and remove the lien. Instant access to fillable Microsoft Word or PDF forms. Minimize the risk of using outdated forms and eliminate rejected fillings. Corporation, as Trustee under Deed of Trust,. Forms to Complete Online and Print. This presents an opportunity for you, as an Investor to become the "Bank" and earn turnkey, fully-secured, double digit interest income. A Substitution of Trustee and Full Reconveyance transfers trustee responsibilities and returns property ownership to the original owner in escrow. The reconveyance lets the world know that the borrower has satisfied the debt.