Escrow & Title
After a loan is paid off in California, the lender should provide a:
AGrant deed
BReconveyance deed✓ Correct
CSatisfaction of mortgage
DQuitclaim deed
Explanation
When a California deed of trust loan is fully paid, the trustee executes a deed of reconveyance, which transfers legal title back from the trustee to the trustor (borrower), clearing the lien from the title.
Related California Escrow & Title Questions
- What is a 'grant deed'?
- Under California law, a mechanics' lien must be filed within what time period after completion of a construction project by a general contractor?
- Which type of title insurance protects the lender?
- What document does a trustee under a deed of trust record to start a non-judicial foreclosure in California?
- What is a 'deed of trust' and how does it differ from a mortgage in terms of the parties involved?
- Title insurance that protects the lender against losses due to title defects is called:
- Which of the following liens would have PRIORITY over a previously recorded first mortgage in California?
- A quitclaim deed conveys:
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