This is an official Washington form for use in land transactions, a Request for Full Reconveyance.
Washington Request for Full Reconveyance
Category:
State:
Washington
Control #:
WA-1031-08
Format:
Word;
PDF;
Rich Text
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Description
How to fill out Washington Request For Full Reconveyance?
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FAQ
Reconveyance is the transfer of a title to the borrower after a mortgage has been fully paid.
A document known as a substitution of trustee and full reconveyance identifies the person who has the authority to reconvey the property and remove the lien.Once the document is registered, it establishes the borrower as the sole owner of the property, which is now free and clear of the previous mortgage.
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.
An action for reconveyance, on the other hand, is a legal and equitable remedy granted to the rightful owner of land which has been wrongfully or erroneously registered in the name of another for the purpose of compelling the latter to transfer or reconvey the land to him.
Upon the return receipt of the Address Verification Letter, the property reconveyance process will begin. Once all the paperwork has been received by the Administrative Office, it may take up to thirty (30) calendar days to process. The deeds of trust are processed in the sequence received.
A mortgage holder issues a deed of reconveyance to indicate that the borrower has been released from the mortgage debt. The deed transfers the property title from the lender, also called the beneficiary, to the borrower. This document is most commonly used when a mortgage has been paid in full.
Complete the top area of the reconveyance deed. Enter the name of and address of the person who executed the deed of trust, the borrower or debtor. Refer to the original deed of trust for the name spelling. Complete the middle section, the trustee's name and address.
A reconveyance fee is a charge that comes from the title company of a property or from an attorney in some states. This fee is what covers the cost of taking away any lien that a lender has on an owner's property title when the owner wants to refinance the property. The fee is taken at closing.