When a house is transferred from the previous owner (the grantor) to the new one (the grantee), it’s done so with a property deed. Although there are many classifications for a deed, most property deeds are considered private. Deeds are also classified according to the type of title warranty that the grantor provides. General warranty […]
A mortgage release, also known as a deed in lieu of foreclosure, essentially transfers ownership of a property back to the mortgage company in exchange for releasing the borrower from making any more loan payments. Deeds in lieu are usually initiated by the borrowers and need to be mutually agreed-upon and conducted in good faith. […]