Escrow & Title
In Alaska, a 'reconveyance deed' is recorded when:
AProperty is transferred from one owner to another
BA deed of trust loan is paid off, releasing the lien from the property✓ Correct
CA property is sold at foreclosure
DA lien is added to a property
Explanation
When a deed of trust loan is paid in full, the trustee records a reconveyance deed (or deed of reconveyance) that releases the trust deed and conveys the property back to the borrower free of the lender's lien. This is analogous to a satisfaction of mortgage for a traditional mortgage loan.
Related Alaska Escrow & Title Questions
- In Alaska, a buyer who receives a 'survey exception' in the title insurance commitment should:
- Proration of property taxes at closing means:
- The purpose of a 'satisfaction of mortgage' (or deed of reconveyance in a trust deed state) is to:
- The chain of title is the:
- In Alaska, a 'chain of title' refers to:
- In Alaska, a 'buyer's closing costs' typically include all of the following EXCEPT:
- In a typical Alaska closing, which of the following is a SELLER debit on the settlement statement?
- A subordination agreement in Alaska allows:
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