Albuquerque New Mexico Deed of Release and Full Reconveyance - Corporate Trustee

State:
New Mexico
City:
Albuquerque
Control #:
NM-SS123
Format:
Word; 
Rich Text
Instant download

Description

This Release - Satisfaction - Cancellation Deed of Trust - by Corporate Lender is for the satisfaction or release of a mortgage for the state of New Mexico by a Corporation. This form complies with all state statutory laws and requires signing in front of a notary public. The described real estate is therefore released from the mortgage.
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FAQ

A deed of reconveyance is a document that transfers the title of a property to the borrower from the bank or mortgage holder once a mortgage has been satisfied. It clears the lender from the title to the property.

A Substitution of Trustee and Full Reconveyance is normally used when a deed of trust is assigned to a new beneficiary who wishes to substitute itself as trustee and at the same time record a full reconveyance.

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.

Whether you get a deed of reconveyance, a full reconveyance or a satisfaction of mortgage document, it means the same thing: your loan has been paid in full and the lender no longer has an interest in your property.

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. Most importantly, a deed of full reconveyance, known as a satisfaction of mortgage in some states, transfers title back to the borrower.

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The deed of reconveyance is completed and signed by the lender and filed with the local recording office, such as the county courthouse.

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.

A Deed of Reconveyance is documentation that the debt secured by a Deed of Trust (a document that allows a third-party to hold the title to a property until it is completely paid for) has been fully paid.

Once the loan amount has been paid in full, California requires lenders to execute a deed of reconveyance within seventy-five days after the debt has been paid. If the lender fails to provide the borrower with a deed of reconveyance, problems can arise for the trustor.

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Albuquerque New Mexico Deed of Release and Full Reconveyance - Corporate Trustee