![]() ![]() Many lenders prefer to foreclose in order to clean up the title. This serves to prevent foreclosure proceedings, and if the lender accepts the deed in lieu of foreclosure, the loan is terminated. Deed in Lieu of Foreclosure: This is given by a borrower who is in default on a mortgage directly to the lender.Tax Deed: This is issued when a property is sold for delinquent taxes.The grantee receives whatever title the judgment debtor has. Sheriff's Deed: This is given to the successful bidder at an execution sale held to satisfy a judgment that has been obtained against the owner of the property.The estate's executor will dispose of the decedent's assets and an executor's deed may be used to convey the title or real property to the grantee. Executor's Deed: This may be used when a person dies testate (with a will).A court-appointed administrator will dispose of the decedent's assets and an administrator's deed may be used to convey the title of real property to the grantee. Administrator's Deed: This may be used when a person dies intestate (without a will).Typically, deeds are accepted by the grantee but in certain circumstances, the grantee could reject delivery of the deed. The deed must be accepted by the grantee.The deed must be legally delivered to the grantee or to someone acting on the grantee's behalf.The deed must be signed by the grantor or grantors if the property is owned by more than one person. ![]() All standard form deeds include the necessary legal language that actually transfers the property. ![]()
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