• Creator
    Topic
  • #17964

    Luke Harris
    Participant
    Post count: 146

    I have a buyer that has chosen to default on a property, and I would like to not have to go through my whole forclosure process, do any of you use any kind of a release form in a situation like that where a buyer would relenquish all right to a property just by signing it?

Viewing 4 replies - 1 through 4 (of 4 total)
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    Replies
  • Rob
    Participant
    Post count: 19
    Pro

    DIL (Deed In Lieu of Foreclosure)
    Any title company would have one for you to use…

    B.D. Jones
    Participant
    Post count: 50
    Pro

    Any reason a standard quit claim deed wouldn’t work?

    Rob
    Participant
    Post count: 19
    Pro

    Its my understanding that a quit claim deed only surrenders ownership rights but does not eliminate the mortgage obligation. DIL does both.

    B.D. Jones
    Participant
    Post count: 50
    Pro

    That makes sense.

Viewing 4 replies - 1 through 4 (of 4 total)

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