deed in lieu of foreclosure

A deed by which a borrower conveys fee-simple title to a lender in satisfaction of a mortgage debt and as a substitute for foreclosure.

• This deed is often referred to simply as “deed in lieu.” [Cases: Mortgages 293. C.J.S. Mortgages §§ 441–443.]

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词条贡献者

双语律师Simon，毕业于亚洲一流的高级翻译学院，擅长翻译涉及金属和矿业领域的法律文件。