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States that follow title theory include: Nevada. Washington. Oregon. Idaho.
Some states allow both mortgages and deeds of trust.Mortgage States and Deed of Trust States. StateMortgage StateDeed of Trust StateNebraskaYNevadaYNew HampshireYNew JerseyY47 more rows
the act or process of conveying something or someone back to their original location.
Deeds of trust are the most common instrument used in the financing of real estate purchases in Alaska, Arizona, California, Colorado, the District of Columbia, Idaho, Maryland, Mississippi, Missouri, Montana, Nebraska, Nevada, North Carolina, Oregon, Tennessee, Texas, Utah, Virginia, Washington, and West Virginia,
Is a Deed of Trust the Same as a Title? Deed of Trust and Title are both terms youll likely hear when purchasing property, but they actually are different in purpose and meaning. A Deed of Trust is the loan on the property, and a Title expresses the actual ownership of a property.
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The trustee is the person (or people) who holds legal title to the property that is in the trust.
If the loan is completely paid off (either before or at the end of the loan term), the Trustee is responsible for dissolving the Trust and transferring the legal title over to the new owner (the borrower).
In that context, reconveyance refers to the transfer of title to real estate from a creditor to the debtor when a loan secured by the propertyi.e. mostly likely a mortgage with the property as collateralis paid off.
With your mortgage paid off, you do not have to send the mortgage company any more money. Send discharge of mortgage letter to your county: Your mortgage company should send all of the required documents to your county clerks office notifying them that your home is no longer bound by a mortgage.
A deed of reconveyance is a legal document that indicates the transfer of a propertys title from lender to borrower. The deed of reconveyance is typically issued after the borrower has paid off their mortgage in full. Some states do not use mortgages but use deeds of trust.

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