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A deed of reconveyance is a document that indicates you’ve fully paid off the mortgage on your home. It represents the transfer of ownership from your mortgage lender to you.
A real estate transaction is the process whereby rights in a unit of property (or designated real estate) are transferred between two or more parties, e.g. in the case of conveyance one party being the seller(s) and the other being the buyer(s). It can often be quite complicated due to the complexity of the property rights being transferred ...
A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically mentioned, "marketable title" may be specified, implying a warranty deed should be provided.
Once a home is foreclosed on by the governing body (city or county) due to back-owed taxes, the city or county obtains a tax deed on the home. Tax deeds are then sold at auction in an effort to ...
In the case of a deed, the grantor would typically be the property seller, and the grantee the buyer. A mortgage grantor or mortgagor is the borrower of the loan since they are giving away certain property rights to the mortgagee, lender, or mortgage grantee. More recent wording simplifies this language with "Borrower" and "Lender."
It's generally possible to transfer ownership of a house using a quitclaim deed or by preparing a new deed and filing it with the relevant authorities, with particular requirements varying by state.
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