![]() It is important to file a Deed of Reconveyance once the debt on a Deed of Trust has been paid, as there may be penalties involved for not filing the document within a reasonable time (generally around 30 days from the date that the final debt payment was made). ![]() In a revocable trust, the grantortrust makeris the trustee. Types of Trusts and Probate A trust can be revocable or it can be irrevocable. Property not held within your trust can't avoid probate. Conveyance is the act of transferring ownership of property from one entity to another, usually in writing with a deed. Once the document has been filed, the debt that was registered to the property will be considered paid off. Funding your real estate trust is an important step in forming itperhaps the most important. ![]() _(Notary Public Signature) Notary Public My commission expires: _Ī Deed of Reconveyance should be filed with your local county recorder or recorder of deeds once it has been signed by a notary public (such as an attorney). I _, a Notary Public in and for said County and State, hereby certify that _ whose name is signed to the foregoing Instrument, and who is known to me (or satisfactorily proven), acknowledged before me on this day that, being informed of the contents of the Instrument, he/she executed the same voluntarily on the day the same bears date. But, one single person could be the settlor, trustee and beneficiary. The settlor, trustee, and beneficiary can be different people. A person called the settlor (or trustor) creates the trust and puts the property in the trust. SIGNED, SEALED, AND DELIVERED in the presence of: _ WITNESS: A trust is when one person (trustee) holds title to property for the benefit of another person (the beneficiary). The Trustee hereby reconveys unto the Trustor, without warranty, all right, title and interest which was acquired by said Trustee under said Deed of Trust for the real property more particularly described as follows: _.ĮXECUTED by _ on _ day of _, _. _ of _, (the "Trustee") does hereby certify and declare that the debt or other obligation in the amount of $_ USD, secured by the Deed of Trust executed by _ of _, (the "Trustor"), the Trustee, and _ of _, (the "Beneficiary"), dated Jand recorded at the Office of the Register of Deeds of _ on Jas _, has been FULLY PAID and SATISFIED. This document prepared by (and after recording returned to): Name: _ Firm/Company: _ Address: _ Phone: _ Assessor's Property Tax Parcel/Account Number: _Ībove this line reserved for official use only
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