Voluntarily signing over to a lender the property pledged as collateral on a defaulted loan. It is an alternative to a foreclosure action. Its main disadvantage to a lender is that the deed does not wipe out junior liens, as a foreclosure action would. (See junior liens).
Barry Goldsmith
| APA | Barry Goldsmith. (2010). deed in lieu of foreclosure. Retrieved September 25, 2026, from http://smartdefine.org/deed_in_lieu_of_foreclosure/definitions/1151648 |
| Chicago | Barry Goldsmith. 2010. "deed in lieu of foreclosure" http://smartdefine.org/deed_in_lieu_of_foreclosure/definitions/1151648 (accessed September 25, 2026). |
| Harvard | Barry Goldsmith 2010, deed in lieu of foreclosure, Smart Define, viewed 25 September, 2026, <http://smartdefine.org/deed_in_lieu_of_foreclosure/definitions/1151648>. |
| MLA | Barry Goldsmith. "deed in lieu of foreclosure" 21 October 2010. Web. 25 September 2026. <http://smartdefine.org/deed_in_lieu_of_foreclosure/definitions/1151648> |