What is a release deed also known as?

A release deed is also known as a deed of reconveyance. This type of document is primarily used in the context of real estate transactions, particularly when certain obligations related to a mortgage or loan have been fulfilled. When a property owner pays off a loan secured by a property, the lender issues a release deed or deed of reconveyance, indicating that the lender no longer holds any claim to the property.

The purpose of this deed is to clear the title to the property, allowing the owner full rights free from any encumbrances related to the previous debt. This process is significant for property owners as it ensures that their ownership is formally recognized and protected in public records. The release deed effectively conveys the release of a lien or mortgage, making it an essential part of real estate law and property ownership.