Get Substitution Of Trustee And Full Reconveyance - First American Title

Once you've repaid your loan in full, your lender contacts the title company to issue a deed of reconveyance in its proper form ing to state law. This generally occurs within 3 – 4 weeks of your final payment.

Once the loan amount has been paid in full, California requires lenders to execute a deed of reconveyance within seventy-five days after the debt has been paid.

A reconveyance is the return of a property's title – sans mortgage lien – to the original owner after they've fulfilled their obligations pursuant to the mortgage or deed of trust.

A deed of reconveyance is the document that transfers the title of a property from the trustee named in the deed of trust back to the borrower or property owner (called the trustor).

When a deed of trust/mortgage is paid in full, you can record a Full Reconveyance from the trustee stating publicly that the loan has been paid. The Full Reconveyance Form is completed and signed by the trustee, whose signature must be notarized.

Practically, lenders and servicers may want to consider including in payoff demand statements an additional $150 in recording fees for a Substitution of Trustee and Full Reconveyance ($75.00 for each document “title”), necessary for the release of the loan.

In a nutshell, the Substitution of Trustee and Deed of Reconveyance is a legal document that evidences security interest is being release by a lender. In most cases, the document shows that a loan has been paid off. Property owners may even receive this document if they have refinanced a loan.