Legal Question in Real Estate Law in California
Escrow
What does full reconveyance mean When property has been recorded at the Hall of Records after being sold, is that the day it closed escrow? Or when does escrow close?
Asked on 12/10/99, 12:30 pm
1 Answer from Attorneys
Lyle Johnson
Bedi and Johnson Attorneys at Law
Re: Escrow
A full reconveyance is used to reconvey the security interest transfered with deed of trust. After a mortgage is paid in full the holder of the deed of trust gives to the property owner. The owner records it with the county recorder.
Escrow closes when all of the conditions of the escrow are met. Typically escrow closes when the buyer receives title to the property and the seller receives payment.
Answered on 12/10/99, 9:56 pm
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