reconveyances

[TrustUser]

i carried back a first loan for borrower when he bought my property some years ago. now he is ready to pay loan off. borrower wants to send me a check for the full amount of the loan, and only have a reconveyance done, eliminating costs of escrow and or title. which is fine with me. if i do a search on reconveyance, all i get is sites telling me what they are, etc. who might i contact to have them do the reconveyance ? i was thinking of having the borrower contact his local bank ?

 

[adjusterjack]

There's probably a variety of formats depending on your state and the type of the original loan document.

You could have him try his bank. If that doesn't help, spend a few hundred on a lawyer to do it right and get it recorded.

 

[TrustUser]

in looking over the documents, it does state that the note and deed of trust need to be handed over to the trustee for cancellation, before it can be reconveyed. in this case, the trustee is fidelity national. so i did send an email to them. she wont be in until monday.

i am making sure it is done correctly, one way or the other. so far, there are a few people who may get back to me. thanks for your input.

 

[TrustUser]

i just recalled the substitution of trustee form, which i have filled out many times before. and it just so happens that the firm that is handling my foreclosure also does reconveyances. so just sent them an email. i suspect i will use this firm.