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December 22, 2009
Deed
A deed is a common document used in real estate transactions to transfer property titles. Real estate deeds must be filed through the local County Recorder's office. They are used to document legal property description, individuals involved in the transaction, and property owner.
When real estate is transferred, a new deed is recorded. The type of deed used depends on the state where property is located, as well as the type of real estate transaction. The most common include: warranty deeds, deed of trust, quitclaim, grant, and deed in lieu of foreclosure. Let's take a brief look at each deed definition.
Real Estate Investing article on "Deed"
November 13, 2009
Deed in Lieu
Deed in lieu is an option presented to borrowers facing foreclosure. Deed in lieu agreements allow borrowers to return their house to the mortgage lender and walk away. Although homeowners' lose all vested monies and receive no sale proceeds they can avoid foreclosure and lessen credit damage.
Mortgage lenders are not required to offer deed in lieu agreements. However, banks benefit by this type of real estate transaction because it allows them to avoid the costly expense of foreclosure eviction.
Real Estate Investing article on "Deed in Lieu "
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