beneficiary's demand - the written instructions from a beneficiary to a debtor under a deed of trust or a mortgage setting forth the amount that must be paid to receive a reconveyance from the beneficiary. For example, in a typical sale of a home with an existing mortgage, the escrow officer will contact the lender of record and ask that a written payoff demand be sent to escrow. It will take the form of a letter stating the amount required to satisfy the debt. When escrow closes, the specified sum will be conveyed to the lender who will then issue a document indicating that the debt has been paid in full. See also beneficiary and trust deed .

© 2004 Bella Vista Publishing Company, Inc.  ISBN 0-9718225-0-6

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