Question

True or False: "Reconveyance" is the transfer of property to the borrower when he or she pays off a deed of trust.

Answer 1

Reconveyance is the transfer of property to the borrower when he or she pays off a deed of trust.

Step-by-step explanation:

True. Reconveyance refers to the transfer of property to the borrower when they have paid off a deed of trust. In the context of real estate, a deed of trust is a legal agreement between the lender and the borrower, securing a loan with the property as collateral. When the borrower pays off the loan, the lender reconveys the property back to them.