A voluntary transfer of marketable title to a property to avoid foreclosure.
An instance where borrowers voluntarily convey their rights in a property to the lender.
Short for deed in lieu of foreclosure, this conveys title to the lender when the borrower is in default and wants to avoid foreclosure. The lender may or may not cease foreclosure activities if a borrower asks to provide a deed-in-lieu. Regardless of whether the lender accepts the deed-in-lieu, the avoidance and non-repayment of debt will most likely show on a credit history. What a deed-in-lieu may prevent is having the documents preparatory to a foreclosure being recorded and become a matter of public record.
The transfer of title from a borrower to the lender to satisfy the mortgage debt and avoid foreclosure. Also called a "voluntary conveyance."
Used by owners to voluntarily convey the title of their property to the mortgagee/beneficiary (lender) to avoid the negative credit consequences of a foreclosure. The title must be is free and clear of any other encumbrances and the owners execute an l affidavit acknowledging that they are acting volitionally, with informed consent.
The transfer of title (ownership) of a property, from a borrower who is delinquent on their loan back to their lender to satisfy the balance due on the delinquent loan. The transfer is made voluntarily so that the borrower can avoid foreclosure proceedings.
Where a borrower voluntarily gives (or forfeits) their rights to the property back to the lender.
A deed given by an owner/borrower to a lender to prevent the lender from bringing foreclosure proceedings. The validity of the deed depends to some degree on 'fairness' under the circumstances, and adequacy of consideration will be considered.
A deed given by a mortgagor to the mortgagee when the mortgage is in default, to avoid foreclosure
In order to stop foreclosure, it is when the borrower voluntarily deeds the property back to the lender. (Junior liens will remain in effect.)