Deed in Lieu of Foreclosure

Use a deed in lieu of foreclosure to document an agreement between borrower and lender where the borrower voluntarily gives back a property.

Deed in Lieu of Foreclosure Template

Updated July 5, 2023
Written by Yassin Qanbar | Reviewed by Susan Chai, Esq.

A Deed in Lieu of Foreclosure benefits a mortgage borrower because he or she can avoid foreclosure by voluntarily turning the property over to the lender. The lender benefits from the ability to sell or lease the property relatively quickly instead of going through a lengthy court process.