Deed in lieu of foreclosure definition

Deed in lieu of foreclosure means a voluntary, knowing and uncoerced conveyance by the residential mortgage debtor to the residential mortgage lender of all claim, interest and estate in the property subject to the mortgage. In order for a conveyance to be voluntary, the debtor shall have received notice of, and been fully apprised of the debtor's rights as specified in section 4 of this act. For purposes of this act, "voluntarily surrendered" has the same meaning as "deed in lieu of foreclosure."

Deed in lieu of foreclosure means a voluntary, knowing and

Deed in lieu of foreclosure means a recorded document that transfers ownership of a property from the mortgagor to the mortgagee.

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.

More Definitions of Deed in lieu of foreclosure

Deed in lieu of foreclosure means a deed instrument in which a borrower conveys all interest in a property to the lender to satisfy a loan that is in default to avoid foreclosure proceedings. For purposes of the AHP retention requirements, transfer of a property through a deed in lieu of foreclosure will be treated as though the property had been foreclosed.

Deed in lieu of foreclosure means a recorded instrument that transfers ownership of real property between parties to a particular deed of trust as follows: from the trustor, borrower, to the trustee upon consent of the beneficiary, lender.

Deed in lieu of foreclosure means a transaction in 11

Deed in lieu of foreclosure means a conveyance of title to the Property from the Borrower in lieu of foreclosure or other proceeding.

Deed in lieu of foreclosure means a recorded document that transfers property from the trustor to the holder of a deed of trust upon consent of the beneficiary of the deed of trust.

Deed in lieu of foreclosure means a deed which conveys residential property to the mortgagee or lender in lieu of such mortgagee’s or lender’s pursuing court foreclosure following default of the underlying secured note.

Deed in lieu of foreclosure means a recorded document that transfers property from the trustor to the holder of a deed