reconveyance
Reconveyance means the return of title to the original owner. Most commonly arises in the context of reconveyance of real estate deeds —also referred to as deed of reconveyance . 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 property—i.e. mostly likely a mortgage with the property as collateral —is paid off. A trustee (commonly a title or escrow company) usually holds title for the creditor and manages the reconveyance when the loan is fully paid back.
[Last reviewed in December of 2020 by the Wex Definitions Team ]
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