Definition of "deed-in-lieu"
  1. A legal document handed over by a borrower to a lender to avoid foreclosure proceedings
How to use "deed-in-lieu" in a sentence
  1. Faced with a defaulting borrower, the bank suggested a deed-in-lieu to avoid costly foreclosure proceedings.
  2. To mitigate loss, the lender sometimes prefers accepting a deed-in-lieu rather than engaging in long foreclosure processes.
  3. Considering their financial difficulties, they decided to offer the bank a deed-in-lieu.

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