A California Reconveyance Surety Bond is required by banks or other financial instrument transfer agents. This bond is the same as the California Lost Trust Deed Surety Bond.
A trust deed is normally recorded with the recorder or county clerk for the county where the property is located, as evidence of and security for the debt.
When the obligation secured by a mortgage or deed of trust has been fully satisfied the lien of any mortgage or deed of trust would be released. However, if the present mortgagee or beneficiary of record cannot be located, after a diligent search, or refuses to execute and deliver a proper certificate of discharge or request for re-conveyance, the lien of any mortgage or deed of trust can be released by posting a Reconveyance Surety Bond. The bond amount required is two times the amount of the original obligation and any additional principal amounts.
The bond recorded by the mortgagor or trustor must contain the following information describing the mortgage or deed of trust:
Surety1 can easily get you the bond you need. You can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.
First, start the process by completing our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been in the business since 2003. We are licensed in all 50 states. As a result, our services have earned an A+ rating from the Better Business Bureau.