Escrow & Title
In South Dakota, a 'deed of reconveyance' is used to:
ATransfer property from one family member to another
BRelease the lien of a deed of trust when the loan is paid off✓ Correct
CConvey property back to the original seller in a failed transaction
DTransfer a deed from an individual to a trust
Explanation
When a loan secured by a deed of trust is fully repaid, the trustee executes a deed of reconveyance to the borrower (trustor), releasing the lien of the deed of trust from the property. This is the equivalent of a mortgage satisfaction/discharge for deed-of-trust transactions.
Related South Dakota Escrow & Title Questions
- In South Dakota, when property is conveyed by deed, the deed must contain all of the following EXCEPT:
- The purpose of a closing escrow in South Dakota is to:
- A South Dakota property sells for $340,000 with a $204,000 existing mortgage that the buyer assumes. The seller receives what at closing (assuming no other charges)?
- In a real estate closing, proration is used to:
- A title search is conducted primarily to:
- Recording a deed in South Dakota provides which primary benefit?
- When a South Dakota property is 'double insured' (buyer and lender each have title insurance), both policies cover:
- Title insurance in South Dakota is typically purchased:
Practice More South Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Dakota Quiz →