Home > Terms > English, UK (UE) > Deed-in-lieu (of foreclosure)

Deed-in-lieu (of foreclosure)

A document given by a borrower to a lender, transferring title of the property. Often used to avoid credit-damaging foreclosure procedures.

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Related terms

deed in lieu of foreclosure
Accounting; Tax

The delivery of an asset's title to the lender when the loan is in default The approach may benefit both parties by avoiding the expenses associated with foreclosure and the ...

deed-in-lieu (of foreclosure)
Real estate; General

A document given by a borrower to a lender, transferring title of the property. Often used to avoid credit-damaging foreclosure procedures.

deed-in-lieu (of foreclosure)
Real estate; General

A document given by a borrower to a lender, transferring title of the property. Often used to avoid credit-damaging foreclosure procedures.

deed in lieu of foreclosure
Real estate; General

Conveyance of title in default to avoid a record of foreclosure. Also called friendly foreclosure.

deed in lieu of foreclosure
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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 ...

deed-in-lieu of foreclosure (DEED-IN-LIEU)
Banking; Refinance

Used as an alternative to foreclosure, a deed-in-lieu of foreclosure is where you sign over the deed to your property to the lender because you are unable to pay off your mortgage ...

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