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Reconveyance
Reconveyance The transfer of title to the borrower after a mortgage has been paid fully.
RELATED TERMS--------------------------------------
Title
1) The rights of ownership and possession of particular property. 2) In real estate usage, title may refer to the instruments or documents by which a right of ownership is established (title documents), or it may refer to the ownership interest one has in the real estate.
Borrower
A person who has been approved to receive a loan and is then obligated to repay it and any additional fees according to the loan terms.
Mortgage
A legal document pledging property as security for the payment of a loan.
SIMILAR TERMS--------------------------------------
Recognition clause
A clause found in some blanket mortgages used to purchase a tract of land for subdivision development providing for protection of the rights of the ultimate buyers of individual lots in case of default by the developer.
Recognized capital gains
The recognized capital gain from the sale of an asset subject to income taxes.
Reconciliation
1) The final step in an appraisal process, in which the appraiser reconciles the estimates of value received from the direct sales comparison, cost, and income approaches to arrive at a final estimate of market value for the subject property. 2) The balancing of entries in a double-entry accounting system.
Reconstructed cash flow analysis
An estimated cash flow analysis for a rental property, prepared by an agent using accurate property information.
Reconveyance deed
A deed used by a trustee under a deed of trust to return title to the truster.
Reconveys
In satisfying a deed of trust, the trustee reconveys full title to the borrower.
Recorder
The public official who keeps records of transactions that affect real property in the area.
Recording
The noting in the registrar’s office of the details of a properly executed legal document, such as a deed, a mortgage note, a satisfaction of mortgage, or an extension of mortgage, thereby making it a part of the public record.
Recording deed
Entering the deed (owner's title) in public records to protect against subsequent claimants.
Recording fee
A charge by a local government to file official records of a real-estate transaction.
Recourse
The right of the holder of a note secured by a mortgage or deed of trust to look personally to the borrower or endorser for payment.
PREVIOUS AND NEXT TERMS--------------------------------------
Recital
Setting forth in a deed or other writing some explanation for the transaction.
Recognition clause
A clause found in some blanket mortgages used to purchase a tract of land for subdivision development providing for protection of the rights of the ultimate buyers of individual lots in case of default by the developer.
Recognized capital gains
The recognized capital gain from the sale of an asset subject to income taxes.
Reconciliation
1) The final step in an appraisal process, in which the appraiser reconciles the estimates of value received from the direct sales comparison, cost, and income approaches to arrive at a final estimate of market value for the subject property. 2) The balancing of entries in a double-entry accounting system.
Reconstructed cash flow analysis
An estimated cash flow analysis for a rental property, prepared by an agent using accurate property information.
Reconveyance
Reconveyance deed
A deed used by a trustee under a deed of trust to return title to the truster.
Reconveys
In satisfying a deed of trust, the trustee reconveys full title to the borrower.
Recorder
The public official who keeps records of transactions that affect real property in the area.
Recording
The noting in the registrar’s office of the details of a properly executed legal document, such as a deed, a mortgage note, a satisfaction of mortgage, or an extension of mortgage, thereby making it a part of the public record.
Recording deed
Entering the deed (owner's title) in public records to protect against subsequent claimants.
This dictionary contains 6433 terms. |
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