What is Reconveyance?
A county may ask the state to transfer State Forest Transfer trust lands to its ownership to use as a public park. State law RCW 79.22.300 describes how a county board of commissioners may request ‘reconveyance’ if the public park use proposed will not conflict with county and state outdoor recreation plans. The county pays for the cost of reconveyance. If the Washington State Department of Natural Resources (DNR) determines that the request is consistent with the State Comprehensive Outdoor Recreation Plan, the proposed transaction is presented to the Board of Natural Resources for approval. Why do we say ‘reconvey’? The process is called reconveyance because State Forest Transfer trust lands, which DNR manages, were once owned by the counties. These forestlands—originally called Forest Board Transfer trust lands—were forfeited to counties by private landowners who failed to pay property taxes, primarily in the 1920s and 1930s. Most of these lands had been logged, abandoned, and piled
If you buy property or a home using a loan from a lender, then the lender places a lien against the property. The lien is put in place when you originally borrow the loan. A reconveyance can remove this lien when the loan has been paid back in full and the property is yours free and clear. A reconveyance must be recorded at the county recorder’s office of the county the property is situated in. The reconveyance to be recorded must have the same information that is on the deed of trust. The deed of trust is a document between the borrower and the lender, and also names a trustee. The trustee is usually a title company, and the deed of trust also records the property that the loan is being used to buy. The reconveyance must be recorded at the county office so that, if a search is made on the property, it will show that the lien has been paid in full. The property owner’s name may not always appear on the deed of trust. If you buy a property from an individual and take on their loan repay
Upon payment in full on a Note secured by a Deed of Trust the beneficiary (lender) relinquishes his original note and original deed of trust to the borrower. The note and Deed of Trust are given to the trustee who, for a small fee, issues a Deed of Reconveyance and records it. A Deed of Reconveyance wipes a lien (Deed of Trust) off the property record.
Reconveyance is the act of conveying title in property back to the original owner. Under a deed of trust, the trustor (borrower/mortgagor) conveys title to a third party trustee as security for a debt. When the debt is paid off, the property is then reconveyed by the trustee to the trustor by means of a reconveyance deed.
