If you record an erroneous Release of Obligation, the only proper way to correct the error may be to have the owner of the property execute a new deed of trust or an instrument reinstating the old deed of trust. Also, before contacting the owner and asking him to cooperate by signing the corrective document, it may be prudent to first file a court action and record a lis pendens.
If it is at all possible, the form below should be modified to include the signature of the owner. With this warning in mind, you may find it useful from a practical, if not a legal, standpoint to quickly put a document of record signed only by the title insurance company that is likely to notify people that the Release was recorded in error.
RESCISSION OF RELEASE OF OBLIGATION