What is the difference between reconveyance and conveyance?

Definitions

reconveyance

- Referring to the transfer of property ownership from a mortgage lender back to the borrower.

- Describing the process of returning property rights to the original owner after they were temporarily transferred to another party.

- Talking about the legal act of transferring property ownership back to the grantor after it was previously conveyed to the grantee.

conveyance

- Referring to the transfer of property ownership from one party to another.

- Describing the act of transporting goods or people from one place to another.

- Talking about the legal document that transfers property ownership from the grantor to the grantee.

List of Similarities

• 1. Both words refer to the transfer of property ownership.
• 2. Both words are used in legal contexts.
• 3. Both words involve a grantor and grantee.
• 4. Both words can be nouns.

What is the difference?

• 1. Direction: Reconveyance refers to the transfer of property ownership back to the original owner, while conveyance refers to the transfer of property ownership from one party to another.
• 2. Purpose: Reconveyance is often associated with the completion of a mortgage payment, while conveyance can be used for various purposes, such as buying or selling property.
• 3. Scope: Reconveyance is a more specific term than conveyance, which has a broader range of applications.
• 4. Timing: Reconveyance typically occurs after a previous conveyance, while conveyance can happen at any time.
• 5. Legal status: Reconveyance is a legal term used in real estate law, while conveyance can also be used in other legal contexts, such as contracts or intellectual property.

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Remember this!

Reconveyance and conveyance are both terms used in property ownership transfer. However, reconveyance refers to the transfer of property ownership back to the original owner, while conveyance refers to the transfer of property ownership from one party to another. Additionally, reconveyance is a more specific term used in real estate law, while conveyance has a broader range of applications and can be used in various legal contexts.