Free Deed in Lieu of Foreclosure Form for California
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Preview - California Deed in Lieu of Foreclosure Form
California Deed in Lieu of Foreclosure
This Deed in Lieu of Foreclosure is made this _____ day of __________, 20___, by:
Homeowner: ________________________________________
Address: ________________________________________
City, State, Zip Code: ___________________________
Hereinafter referred to as “Homeowner”
and
Lender: ________________________________________
Address: ________________________________________
City, State, Zip Code: ___________________________
Hereinafter referred to as “Lender.”
This agreement is made under the laws of the State of California, specifically in accordance with California Civil Code Section 2943.
The Homeowner, who is the owner of the property described below, agrees to this Deed in Lieu of Foreclosure to convey the property to the Lender in satisfaction of the debt secured by the property.
Property Description:
Address: _____________________________________________
City, State, Zip Code: _________________________________
APN (Assessor's Parcel Number): _______________________
The Homeowner acknowledges that:
- The mortgage or deed of trust is in default.
- Conveying the property will relieve them of further obligations under the mortgage.
- The Lender assumes the responsibility for the property upon transfer.
The Homeowner hereby conveys and quitclaims to the Lender all rights, title, and interest in the property described above.
This transfer is executed in exchange for the Lender's agreement to:
- Release the Homeowner from any further liability on the mortgage loan.
- Cancel the foreclosure proceedings on the property.
- Consider this transfer as full satisfaction of the debt owed.
IN WITNESS WHEREOF, the Homeowner has executed this Deed in Lieu of Foreclosure on the date first above written.
Homeowner Signature: ____________________________
Print Name: ____________________________________
Witness Signature: ____________________________
Print Name: ____________________________________
Lender Signature: ____________________________
Print Name: ____________________________________
State of California
County of ___________________
On this _____ day of __________, 20___, before me, a Notary Public, personally appeared _________________________, known to me to be the person whose name is subscribed herein and acknowledged to me that he/she executed the same.
My commission expires: ___________
Create Other Common Deed in Lieu of Foreclosure Forms for Different States
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Similar forms
- Short Sale Agreement: This document allows a homeowner to sell their property for less than the amount owed on the mortgage. Like a deed in lieu, it aims to avoid foreclosure by transferring ownership, but it involves selling the home rather than handing it back to the lender.
- Mortgage Modification Agreement: This form changes the terms of the existing mortgage to make it more manageable for the homeowner. Both documents seek to prevent foreclosure, but a mortgage modification keeps the homeowner in their property while adjusting payment terms.
- Wisconsin RV Bill of Sale: A crucial document for those buying or selling an RV in Wisconsin, which serves to validate the transfer of ownership and can be accessed through the Motor Vehicle Bill of Sale.
- Forbearance Agreement: This document allows a borrower to temporarily reduce or pause mortgage payments. Similar to a deed in lieu, it provides relief from financial strain, but it does not involve transferring property ownership.
- Loan Assumption Agreement: This form allows a buyer to take over the seller's mortgage under its current terms. While a deed in lieu transfers ownership to the lender, a loan assumption keeps the homeowner involved, allowing for a smoother transition when selling the property.