This type of conveyance is used by mortgage lenders when a borrower has paid off their mortgage with the debt having been satisfied, the lender no longer has conditional claims to the property. Reconveyance deeds are used when prevailing conditions have changed and the deed needs to be "re-conveyed".Quitclaim deeds are often used for gifting title as it is a basic type of deed that simply convey that the grantor does not hold any interest in the property being transferred. The grantor of a quitclaim deed makes no assertion over the ownership or condition of the property. Quitclaim deeds are used to convey title without any covenants. Conveyances can be made through various means, such as deeds, contracts, and wills. For a conveyance to be effective, it must be in writing and signed by the person transferring the property. The deed has a greater presumption of validity and is less rebuttable than an. Conveyance is a term used in law to refer to transferring title or ownership of property from one person to another. Any person having an estate or interest in real or personal property may convey such estate or interest to himself or to himself and another or others, including to himself and his spouse as tenants by the entirety or otherwise, and the fact that one or more persons are both grantor or grantee or grantors and grantees in the same conveyance shal. Commonly used by banks on foreclosed properties, these type of conveyances hold little to no claims regarding prior ownership of the property. But delivery in this context means more than a turning over of the physical possession of the document. It is commonly associated with transferring (conveyancing) title to property. A deed of reconveyance is a legal document that indicates the transfer of a property’s title from lender to borrower legally referred to as the trustor in deed of trust states. Bargain and sale deeds, sometimes called special warranty in other states, occur when the grantor makes assertions about the title, but the covenants in the agreement only relate to any time period in which the grantor owned the property.
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