Posted by VickiWA on 2/3/07 7:02pm
Msg #173951

OT: Can someone please enlighten me?

The county recorder sent a copy of a "Substitution of Trustee and Full Reconveyance". I think it is an attachment to the DOT on my house. I am in King County WA but this is from a Trust Company in Tempe AZ. What is the purpose of this form?

Thank you for any information. It seems I should know this but I can't figure it out.

Reply by GWest on 2/3/07 7:43pm
Msg #173957

Did you just payoff a loan on your house? A Full Reconveyance removes the lien of a Deed of Trust on property.

Reply by VickiWA on 2/4/07 12:41pm
Msg #174003

No we didn't pay off the property. We bought the house 2 years ago. Could it be the existing loan was sold? I will make some calls on Monday. Just wondered if I could get some info here. This situation is a first for us.

The doc states they are substituting a new Trustee? I will figure it out on Monday. I get the loan signing part of this industry but I am still figuring out the process. This is not a doc we loan signers deal with.

Reply by SarahBeth_CA on 2/4/07 12:54pm
Msg #174004

This could be a dumb answer but

Would they send you that if you got an 80/20 and the 20 was paid off? Would you please let us know what the answer is I am obviously not an expert on this.

Reply by SvetSFBay on 2/4/07 8:26pm
Msg #174020

Here's what I've found in QA section of my local county recorder's website:

» What is a Substitution of Trustee/Deed of Reconveyance?
A Substitution of Trustee/Deed of Reconveyance is recorded when a loan is paid off or refinanced. It does not necessarily reflect the name of the current property owner. For example: if you assume a loan the Substitution of Trustee/Deed of Reconveyance is recorded in the name of the original borrower, not the current homeowner.