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Recently a customer visiting our Woodland Hills location asked us if it’s possible to file a partial deed of reconveyance, to reflect the fact that part of the loan secured by the Deed of Trust has been paid off.
A partial reconveyance is to reconvey a portion of the land subject to a deed of trust, not the loan amount. In this case – like the great majority of cases – we are not dealing with a subdivided parcel of land, so the customer won’t be able to split up the land subject to the deed of trust. He will have to wait to pay off the full loan before the property is granted back to him.
There is the option of filing a Deed of Reconveyance for the full amount, followed by a new Deed of Trust for the new lower amount but it has the flaw that the new Deed of Trust will be “at the end of the line”, compared to other liens there might be on the property.
The Document People is a network of independently owned stores that share a common purpose: helping customers represent themselves. We are looking forward to offering you legal document assistance. We serve Woodland Hills, Encino, The San Fernando Valley, Orange County and San Diego County.
The information contained in this blog – including information of a legal nature – is provided for informational purposes only, and should not be construed as legal advice on any subject matter.