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Reconveyance of the Deed of Trust

What if you pay off a loan, how do you ensure that you have clear title to your property?

If you borrowed money when you purchased your home or if you have refinanced, it is likely that a deed of trust was recorded in favor of your lender. This document gives the lender a lien on your home until you sell your house or pay off the loan.

At the time of payoff, the lender is obligated to make certain that the title to your property is cleared of the lien. A Reconvenyance of the Deed of Trust is the document which releases the lender’s interest in your property and confirms that you have fully paid your loan.

In additional, under the terms of your Policy of Title Insurance, the title insurer assumes liability for the elimination of that paid lien. This policy is your written guarantee that your property is free and clear of liens which were paid off by the title company as part of your escrow process. This important document is your best protection against any defects in the title to your property and should be part of every escrow transaction.

Typically, the Reconveyance (release document) is recorded at the County Recorder’s Office, and the recorded original of the document is mailed to you directly from the Recorder. This document, together with your title policy, is your assurance that the title has been cleared of that lien.

Sometimes a lender will issue a Reconveyance and send it directly to the borrower rather than the County Recorder. In that event, the document must be recorded. Your escrow officer or the Recorder’s Office can provide information about this process. If you do not receive the Reconveyance, you might want to check with your lender’s Customer Service Department, explaining that you have paid off your loan and ask them to confirm that the Reconveyance is being properly processed.

If you have questions regarding this topic, please feel free to call Lee Palacio, Pacific Coast Title Company sales representative (805) 351-3704.

Please call me to learn more about the home buying process and/or refinancing of your existing home! (805) 339-3591.

Photo courtesy of Dillon Scheps.

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Ventura’s Private Sewer Lateral Program

by Teryn on September 11, 2014

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According to the San Buenaventura Code, Chapter 222.210, Sewer Connections, Section 22.210.020 Sewer Connection Permit, Part C #7 states:

“Property owner to maintain sewer lines. All lateral and house sewer links from the public sewer to private property, including the wye and saddle at the public sewer, shall be maintained a the expense of the property owner.”

  • Effective February 3, 2014 escrows opened must submit proof to the City of Ventura of an inspection of the property’s private sewer lateral within the past 10 years.
  • It is recommended that property owners without an inspection within the last 10 years, have an inspection done before listing the property.
  • If an inspection finds repairs are necessary, they do not need to be completed before the close of escrow but must be disclosed to the City and buyer before the sale. However, repairs must be made within 6 months.
  • Permits for repairs are issued over the counter at Building and Safety Ventura City Hall, 501 Poli St, Room 117, Ventura CA 93001.
  • In order to acquire a permit for repairs you will need: completed inspection report that identifies deficiencies and accompanying CCTV-DVD.

This information has been provided by Ventura Water. The City of Ventura can be reached at (805) 667-6500 for additional questions.

If you have questions regarding this topic, please feel free to call Charlene Williams, Chicago Title representative at (805) 340-7863.

Please call me for recommendations of preferred service provides who can complete the sewer scope for you! (805) 339-3591.

Photo courtesy of Dillon Scheps.

 

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What is Mello-Roos?

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Ventura Housing Market

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It’s Your Move

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Just Sold – Beautiful Oxnard Townhouse

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Guiding Light

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Need a little more light in your life? See for yourself the difference that light bulbs and lamp shades can make with a room’s mood. Check out these bright ideas from RealSimple.com. In the bathroom, use overhead lights to get rid of shadows; sidelights flanking the mirrors are perfect for makeup application. In the kitchen, [...]

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Design Tips for Room Projects

July 2, 2014

Before you start your next home renovation project, consider your space needs first. HGTV and DIY Network offer these tips for taking on room projects that will give your home a fresh look. First, think long term. Since most homeowners are likely to stay in the home at least five years before they see real [...]

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