Banking Law…
Deed in Lieu of Foreclosure
An experienced counsel’s careful review of the specific situation and the risks connected with the property securing the loan is necessary to determine if a Deed in lieu of Foreclosure is advisable and effective. A deed in lieu transaction conveys all the risks, existing burdens, liens, encumbrances and claims that exist or can be asserted against the Mortgaged Property to the acquiring lender. Otten & Associates attorneys have handled numerous of deed in lieu of foreclosure transactions, wherever and whenever it is appropriate for the lending client’s situation.
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