Reconveyance of a deed or mortgage is a process that is often misunderstood, particularly in terms of current regulations and laws in Los Angeles. With numerous other formalities required such as insurance policies, financial documents, and title records, there is a lot of room for confusion. In this article, we will explore some of the most Frequently Asked Questions (FAQs) regarding reconveyance and how they pertain to regulations in Los Angeles.

What is Reconveyance?

Reconveyance is a process that transfers the legal title of real property or an interest therein from one party to another. It can involve multiple parties and may require a court order. In real estate transactions, either a deed or mortgage is usually reconveyed, with the deed returning the property to its owner and the mortgage returning a financial liability to the lender.

What Regulations are Relevant to Reconveyance in Los Angeles?

Laws and regulations concerning reconveyance vary from state to state. In California, the legal framework dealing with reconveyance is based on the California Civil Code Section 2932, which requires the lender to issue a Reconveyance Deed to the borrower after all of the payments have been made, following guidelines from the California Homeowner Bill of Rights (HBOR). In Los Angeles, the Los Angeles Department of Consumer and Business Affairs provides additional guidance, including the need for the reconciliation of the lien that was secured by the deed of trust.

What Types of Payments Must be Made to Execute a Reconveyance in Los Angeles?

The types of payments that must be made to execute a reconveyance in Los Angeles depend on a variety of factors. Generally, any fees and costs associated with the transaction must be paid as part of the reconveyance process before the deed or mortgage can be returned to the borrower or lender. Additionally, in Los Angeles, the current outstanding balance, together with late charges, must be reconciled before the deed of trust is released.

Are There Expedited Reconveyance Processes Available in Los Angeles?

Yes. Under the HBOR, lenders in Los Angeles are required to act rapidly upon receiving a loan payoff request from the borrower and must issue a reconveyance within 21 days of the payoff. This process is called the "expedited reconveyance process," and it is designed to simplify the transfer of property from the lender to the borrower.

How Can I Obtain Legal Assistance with Reconveyance in Los Angeles?

If you need help with your reconveyance in Los Angeles, it’s important to find an experienced attorney who understands both the HBOR and the laws of Los Angeles. UpCounsel is a great resource for finding lawyers with years of local experience who provide tailored legal advice that’s specific to your situation. Additionally, UpCounsel offers flexible terms, cost predictability, and access to a wide network of experienced attorneys.




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