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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Re: Concurrent Escrow and Deed-in -Lieu Posted by Joe Kaiser on June 06, 2003 at 10:30 PM In Reply to: Concurrent Escrow and Deed-in -Lieu posted by Lughead on June 04, 2003 at 2:59 PM A deed in lieu seems like a simple thing, but it isn't. Be careful and have your attorney handle it so you can be sure it's handled properly. There's an issue of the "merging of interests." That means when you get a deed from them, your encumbrance can be automatically wiped out if you're not careful. Small thing? Maybe . . . until you discover a junior lien against the property that you now can't get rid of. So, ask your attorney if he'll include a "nonmerger of interest" clause in the deed in lieu, and if he says "huh?" go find someone else to prepare it for you. Joe ForeclosureClues.com Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : A deed in lieu seems like a simple thing, but it isn't. Be careful and have your attorney handle it so you can be sure it's handled properly. : There's an issue of the "merging of interests." That means when you get a deed from them, your encumbrance can be automatically wiped out if you're not careful. : Small thing? : Maybe . . . until you discover a junior lien against the property that you now can't get rid of. : So, ask your attorney if he'll include a "nonmerger of interest" clause in the deed in lieu, and if he says "huh?" go find someone else to prepare it for you. : Joe Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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