RateEmpire.com

Mortgage Help

 
Mortgage Rates Real Estate Credit Foreclosure Tax

 

Purchase Loan Refinance Loan Debt Consalidation Home Equity Loan Home Improvement Personal Loan Auto Loan Credit Cards

Escrow & Title

Escrow
Protected after escrow?
Condominiums as rentals?
Common Ways To Hold Title
Direct deeding is useful
Escrow is open
Comparing escrow fees
Learn about contingencies
Prepare for Escrow closing
Prorations it pertains to rent
Real estate taxes pro-rated
Real property vs. personal property
Real Estate Mathematics
The hidden cost of closing
Utility bills and escrow
escrow agents have to report?
Walk Through Inspection
 
Title
1031 reverse exchange
1031- Avoid capital gains tax
ALTA Policy
CLTA Policy
Community property tates
Creating a trust
Clouds on a title
Do condos need title insurance?
Deed
Deed of Reconveyance
Dealing with boundary disputes
Easements
Exceptions in title insurance
How much is title insurance?
Lis Pendens
Mortgages vs. deeds of trust
Not married? Joint tenants?
Proposed zoning change
Preliminary Title Report
Quitclaim deeds
Statement of Opinion
Title Insurance
Title insurance and builders
Your closing date-Who chooses?
Why you should have title insurance
Who pays for what Fees in Escrow

Deed of Reconveyance

A Deed of Reconveyance will help to clear your title of any liens that could cause problems for you. This deed will be used along with the deed of trust and it will involve the trustor, trustee and the beneficiary. This deed of trust must be recorded or else the title will not be cleared as it not cleared until it has been recorded

Generally this Deed of Reconveyance is recorded by the escrow company when the deal is closed at that time it will be sent back to the trustee who would then send it to the borrower. Most people have a lending institution or a bank as their beneficiary, this is wise because they are easy to get in touch with.

If you do not get your Deed of Reconveyance recorded and your title cleared a debt or lien could show up later on down the road and cause you all sorts of headaches. If it was something that has been paid off you can get the Deed of Reconveyance recorded at that time and then the lien will be removed. This is a pretty simple procedure but you will have to get in touch with the seller and the beneficiary. If you cannot get in touch with the trustee then you will have to try to get the beneficiary to sign a substitution of trustee form. This will solve most of your problems.

If you cannot get the seller or lender to sign the papers then you will have a harder time. While exactly what you need to do may vary from state to state but in California if the deed is not recorded within 21 days of the trustee's receipt of the documents then the title company can prepare and record a type of release that will then release you of all responsibility within 72 days from payment of the debt. 

If you are unsure of the laws in your state or county you can talk to your attorney or a title company in your area. They will be able to fill you in on everything that you need to know.