What is a deed of reconveyance?

A deed of reconveyance is a legal document used in real estate law in South Carolina. It is used to transfer ownership of a property from one person or entity to another. The deed is typically used when a borrower pays off a loan they received to purchase the property. The deed of reconveyance states that the lender is transferring the property to the borrower, and confirms that the debt is now completely paid off. A deed of reconveyance can also be used if a borrower defaults on a loan. In this situation, the lender would take the property, and the borrower would need to sign a deed of reconveyance before they can regain ownership. The deed of reconveyance would be used to transfer the property back to the borrower and would show that the debt has been satisfied. In either case, the deed of reconveyance must be filed with the South Carolina Department of Revenue in order to be considered official. After it is filed, the deed can no longer be contested and the property will officially be under the ownership of the new holder. The deed of reconveyance is an important document and should be handled with care as it ensures the legal transfer of the property from one party to another.

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What is a deed of reconveyance?

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