deed-in-lieu
USA
deed-in-lieu, Also called a deed in lieu of foreclosure. It conveys title to a lender when a defaulting borrower wants to prevent foreclosure. A lender can choose whether to stop foreclosure activity when the borrower requests a deed-in-lieu. It can help prevent foreclosure preparation documents from being recorded and becoming a matter of public record.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • deed in lieu of foreclosure — A means of escaping an overly burdensome mortgage. If a homeowner can t make the mortgage payments and can t find a buyer for the house, many lenders will accept ownership of the property in place of the money owed on the mortgage. Even if the… …   Law dictionary

  • Deed in lieu of foreclosure — A Deed in lieu of foreclosure is a deed instrument in which a mortgagor (i.e. the borrower) conveys all interest in a real property to the mortgagee (i.e. the lender) to satisfy a loan that is in default and avoid foreclosure proceedings. The… …   Wikipedia

  • Deed In Lieu Of Foreclosure — A potential option taken by a mortgagor (a borrower) to avoid foreclosure under which the mortgagor deeds the collateral property (the home) back to the mortgagee (the lender) in exchange for the release of all obligations under the mortgage.… …   Investment dictionary

  • deed in lieu of foreclosure — A deed executed by the mortgagor that transfers ownership in real estate to a lien creditor. This instrument is used when the debtor is unable or unwilling to pay and wishes to avoid foreclosure. American Banker Glossary …   Financial and business terms

  • deed-in-lieu of foreclosure — A deed executed by the mortgagor that transfers ownership in real estate to a lien creditor. This instrument is used when the debtor is unable or unwilling to pay and wishes to avoid foreclosure. American Banker Glossary …   Financial and business terms

  • in lieu — in place of . Collins dictionary of law. W. J. Stewart. 2001. in lieu Instead of. For example, a deed in lieu of foreclosure is a deed to a house offered to the lender by th …   Law dictionary

  • Foreclosure — For Lacan s psychoanalytic process, see Foreclosure (psychoanalysis). House in Salinas, California under foreclosure, following the popping of the U.S. real estate bubble. Foreclosure is the legal process by which a mortgage lender (mortgagee),… …   Wikipedia

  • Loss mitigation — [http://www.hud.gov/offices/hsg/sfh/nsc/lmmltrs.cfm [Loss Mitigation Policy Guidance] ] is used to describe a third party helping a homeowner, a division within a bank that mitigates the loss of the bank, or a firm that handles the process of… …   Wikipedia

  • Foreclosure consultant — means any person who makes any solicitation, representation, or offer to any owner to perform for compensation or who, for compensation, performs any service which the person in any manner represents will in any manner do any of the following:(1) …   Wikipedia

  • Dlf — may refer to: DLF Limited, India s largest real estate firm, formerly known as Delhi Land and Finance Darfur Liberation Front Dhofar Liberation Front, a Marxist movement based in southern Oman Development Loan Fund, former lending arm of the U.S …   Wikipedia

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