Examples of Deed in lieu of foreclosure in a sentence
The above debt is evidenced by the Loan Documents as described in that certain Deed in Lieu of Foreclosure Agreement executed concurrently herewith between the Grantor and the Grantee (the “Deed Agreement”).
Exception for Mortgaged Property Acquired by Deed in Lieu of Foreclosure.
In the event the Buyer receives title to the secured property at a foreclosure sale, or Xxxxx accepts a Deed in Lieu of Foreclosure, Xxxxx agrees to give the Seller notice of same and afford Seller the option to purchase the Buyer's interest herein by paying the Buyer's Entitlement in full within thirty (30) days, including the costs of foreclosure incurred by Buyer which further includes reasonable attorney's fees.
Neither Seller nor Buyer shall settle any claims, or satisfy the balance due on the defaulted Note and Mortgage, unless either the entire unpaid balance due and owing is received or the other party has consented in writing to such settlement or satisfaction; provided, however, the Buyer shall have the right at all times to accept a Deed in Lieu of Foreclosure.
Xxxxxxx has signed and sealed this Deed in Lieu of Foreclosure the date and year first above written.