Deed In Lieu
Legal definition for Indian law research
Definition
deed-in-lieu
to avoid foreclosure ("in lieu" of foreclosure), a deed is given to the lender to fulfill the obligation to repay the debt; this process does not allow the borrower to remain in the house but helps avoid the costs, time, and effort associated with foreclosure.
Source: U.S. Department of Housing and Urban Development
Definitions are for legal research. Always verify meaning in the context of the statute, judgment, or jurisdiction cited.