Deed In Lieu Of Foreclosure
Deed In Lieu Of Foreclosure
This document is executed by [YOUR NAME], residing at [YOUR COMPANY ADDRESS], herein referred to as the Grantor, in favor of [YOUR COMPANY NAME], a corporation duly organized and existing under the laws of [State], herein referred to as the Grantee.
I. Premises
The real property subject to this Deed in Lieu of Foreclosure is legally described as follows:
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Street Address: [Property Street Address]
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City/County: [Property City, Count]
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State/Province: [Property State/Province]
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Legal Description: [Complete Legal Description]
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Parcel ID: [Parcel Identification Number]
II. Awareness and Voluntariness
The Grantor affirms the following:
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That this conveyance is made voluntarily and without coercion or undue influence.
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That the Grantor is fully aware of the nature and consequence of executing this Deed in Lieu of Foreclosure.
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That the Grantor has sought and received independent legal advice from an attorney of their choice regarding this transaction.
III. Consideration
The consideration for this deed is the full release from the obligation of the mortgage or deed of trust recorded as follows:
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Document Number: [Recording Document Number]
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Date of Record: [Date of Record]
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Amount of Mortgage: [Original Amount of Mortgage]
IV. Conveyance of Title
The Grantor does hereby grant, convey, and transfer to the Grantee, the above-described property, subject to the following:
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All taxes are currently due and payable.
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All encumbrances, liens, easements, and restrictions are recorded against the property.
V. Warranties and Representations
The Grantor makes the following representations and warranties to the Grantee:
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The Grantor holds clear and marketable title to said property, free and clear of all encumbrances, except as specifically noted in this deed.
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No judgments, tax liens, or other liens exist against the Grantor that would attach to the property except as disclosed in this deed.
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There are no undisclosed agreements or options to purchase said property extended to other parties.
VI. Covenant of Further Assurances
The Grantor agrees to execute any documents reasonably required to further evidence or effectuate the conveyance described herein.
VII. Governing Law
This Deed shall be governed by, construed, and enforced following the laws of the State or Province where the property is situated, without regard to its conflict of laws rules.
VIII. Acknowledgement
The parties acknowledge that this deed is executed as a deed and is intended to take effect by way of a statutory deed under the laws of [Property State].
IX. Signatures
IN WITNESS WHEREOF, the Grantor has hereunto set their hand and seal.
Grantor:
[YOUR NAME]
[DATE SIGNED]
Grantee:
[YOUR COMPANY NAME]
[DATE SIGNED]
X. Witnesses
This Deed of Exchange is witnessed and signed on the day and the year first above written.
[WITNESS 1 NAME]
[DATE SIGNED]
[WITNESS 2 NAME]
[DATE SIGNED]
XI. Notarization
State of [STATE]
On this [DATE], before me, a Notary Public in and for the said state, personally appeared [YOUR NAME] and [YOUR COMPANY NAME], known to me to be the persons whose names are subscribed to the foregoing instrument, and acknowledged that they executed the same for the purposes therein contained.
[NOTARY PUBLIC NAME]
[DATE SIGNED]
Notary Public in and for [STATE]
My Commission Expires: [EXPIRATION DATE]
