{"id":442,"date":"2012-01-26T12:27:55","date_gmt":"2012-01-26T16:27:55","guid":{"rendered":"http:\/\/www.dev.atiqbd.com\/what-is-deed-in-lieu-of-foreclosure\/"},"modified":"2012-01-26T12:27:55","modified_gmt":"2012-01-26T16:27:55","slug":"what-is-deed-in-lieu-of-foreclosure","status":"publish","type":"post","link":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure","title":{"rendered":"What is Deed in Lieu of Foreclosure?"},"content":{"rendered":"<p>Generally, the phrase &#8216;deed in lieu of foreclosure&#8217; explains the process more so than any actual deed itself.<!--more--><\/p>\n<p>As the phrase implies, if the person who  purchased property cannot afford to make the mortgage payments to the  lender or seller, the mortgage holder may agree to accept ownership of  the property &#8216;in lieu of&#8217; proceeding with a foreclosure lawsuit through  the court system.<\/p>\n<p>An agreement between the parties is required before the transfer of the property is made in lieu or instead of the legal  foreclosure process.<\/p>\n<p>The parties can also agree to an arrangement  whereby all or a certain portion or percentage of the amount owed by the  person transferring the property is forgiven in exchange for the  transfer of the property.<\/p>\n<p>These agreements are generally in writing,  but do not need to be.<\/p>\n<p>Once the agreement is reached, the person  transferring the property does so via a quitclaim or warranty deed. For an affordable way to create said Deeds, see <a title=\"Standard Legal's Quitclaim Deeds legal forms software\" href=\"https:\/\/shop.standardlegal.com\/product\/quitclaim-deeds-legal-forms-software\/\">Standard Legal&#8217;s Quitclaim Deed legal forms software<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Generally, the phrase &#8216;deed in lieu of foreclosure&#8217; explains the process more so than any actual deed itself.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,24],"tags":[],"class_list":["post-442","post","type-post","status-publish","format-standard","hentry","category-bankruptcy-questions","category-for-sale-by-owner-home-sale-questions","category-quitclaim-and-warranty-deed-questions"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is Deed in Lieu of Foreclosure? - Ask Standard Legal<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Deed in Lieu of Foreclosure? - Ask Standard Legal\" \/>\n<meta property=\"og:description\" content=\"Generally, the phrase &#8216;deed in lieu of foreclosure&#8217; explains the process more so than any actual deed itself.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure\" \/>\n<meta property=\"og:site_name\" content=\"Ask Standard Legal\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/StandardLegalSoftware\" \/>\n<meta property=\"article:published_time\" content=\"2012-01-26T16:27:55+00:00\" \/>\n<meta name=\"author\" content=\"Standard Legal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@StandardLegal\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Standard Legal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/what-is-deed-in-lieu-of-foreclosure#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/what-is-deed-in-lieu-of-foreclosure\"},\"author\":{\"name\":\"Standard Legal\",\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#\\\/schema\\\/person\\\/d43d72c05d7716823188aa03d9f96525\"},\"headline\":\"What is Deed in Lieu of Foreclosure?\",\"datePublished\":\"2012-01-26T16:27:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/what-is-deed-in-lieu-of-foreclosure\"},\"wordCount\":177,\"publisher\":{\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#organization\"},\"articleSection\":[\"Bankruptcy Questions\",\"For Sale by Owner Home Sale Questions\",\"Quitclaim and Warranty Deed Questions\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/what-is-deed-in-lieu-of-foreclosure\",\"url\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/what-is-deed-in-lieu-of-foreclosure\",\"name\":\"What is Deed in Lieu of Foreclosure? - Ask Standard Legal\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#website\"},\"datePublished\":\"2012-01-26T16:27:55+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/what-is-deed-in-lieu-of-foreclosure#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/what-is-deed-in-lieu-of-foreclosure\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/what-is-deed-in-lieu-of-foreclosure#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"What is Deed in Lieu of Foreclosure?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#website\",\"url\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/\",\"name\":\"Ask Standard Legal\",\"description\":\"Ask a Legal Question for FREE! Read Hundreds of Law Q&amp;A Topics.\",\"publisher\":{\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#organization\",\"name\":\"Standard Legal\",\"url\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/wp-content\\\/uploads\\\/2015\\\/09\\\/Waving-American-Flag.jpg\",\"contentUrl\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/wp-content\\\/uploads\\\/2015\\\/09\\\/Waving-American-Flag.jpg\",\"width\":954,\"height\":375,\"caption\":\"Standard Legal\"},\"image\":{\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.standardlegal.com\\\/blog\\\/#\\\/schema\\\/person\\\/d43d72c05d7716823188aa03d9f96525\",\"name\":\"Standard Legal\",\"description\":\"Standard Legal helps everyday people handle common legal issues on their own in an affordable way.\",\"sameAs\":[\"http:\\\/\\\/www.StandardLegal.com\",\"https:\\\/\\\/www.facebook.com\\\/StandardLegalSoftware\",\"http:\\\/\\\/www.linkedin.com\\\/company\\\/standard-legal\",\"https:\\\/\\\/x.com\\\/StandardLegal\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"What is Deed in Lieu of Foreclosure? - Ask Standard Legal","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure","og_locale":"en_US","og_type":"article","og_title":"What is Deed in Lieu of Foreclosure? - Ask Standard Legal","og_description":"Generally, the phrase &#8216;deed in lieu of foreclosure&#8217; explains the process more so than any actual deed itself.","og_url":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure","og_site_name":"Ask Standard Legal","article_author":"https:\/\/www.facebook.com\/StandardLegalSoftware","article_published_time":"2012-01-26T16:27:55+00:00","author":"Standard Legal","twitter_card":"summary_large_image","twitter_creator":"@StandardLegal","twitter_misc":{"Written by":"Standard Legal","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure#article","isPartOf":{"@id":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure"},"author":{"name":"Standard Legal","@id":"https:\/\/www.standardlegal.com\/blog\/#\/schema\/person\/d43d72c05d7716823188aa03d9f96525"},"headline":"What is Deed in Lieu of Foreclosure?","datePublished":"2012-01-26T16:27:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure"},"wordCount":177,"publisher":{"@id":"https:\/\/www.standardlegal.com\/blog\/#organization"},"articleSection":["Bankruptcy Questions","For Sale by Owner Home Sale Questions","Quitclaim and Warranty Deed Questions"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure","url":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure","name":"What is Deed in Lieu of Foreclosure? - Ask Standard Legal","isPartOf":{"@id":"https:\/\/www.standardlegal.com\/blog\/#website"},"datePublished":"2012-01-26T16:27:55+00:00","breadcrumb":{"@id":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.standardlegal.com\/blog\/what-is-deed-in-lieu-of-foreclosure#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.standardlegal.com\/blog\/"},{"@type":"ListItem","position":2,"name":"What is Deed in Lieu of Foreclosure?"}]},{"@type":"WebSite","@id":"https:\/\/www.standardlegal.com\/blog\/#website","url":"https:\/\/www.standardlegal.com\/blog\/","name":"Ask Standard Legal","description":"Ask a Legal Question for FREE! Read Hundreds of Law Q&amp;A Topics.","publisher":{"@id":"https:\/\/www.standardlegal.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.standardlegal.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.standardlegal.com\/blog\/#organization","name":"Standard Legal","url":"https:\/\/www.standardlegal.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.standardlegal.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.standardlegal.com\/blog\/wp-content\/uploads\/2015\/09\/Waving-American-Flag.jpg","contentUrl":"https:\/\/www.standardlegal.com\/blog\/wp-content\/uploads\/2015\/09\/Waving-American-Flag.jpg","width":954,"height":375,"caption":"Standard Legal"},"image":{"@id":"https:\/\/www.standardlegal.com\/blog\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.standardlegal.com\/blog\/#\/schema\/person\/d43d72c05d7716823188aa03d9f96525","name":"Standard Legal","description":"Standard Legal helps everyday people handle common legal issues on their own in an affordable way.","sameAs":["http:\/\/www.StandardLegal.com","https:\/\/www.facebook.com\/StandardLegalSoftware","http:\/\/www.linkedin.com\/company\/standard-legal","https:\/\/x.com\/StandardLegal"]}]}},"_links":{"self":[{"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/posts\/442","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/comments?post=442"}],"version-history":[{"count":0,"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/posts\/442\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/media?parent=442"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/categories?post=442"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.standardlegal.com\/blog\/wp-json\/wp\/v2\/tags?post=442"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}