How do or can you quit claim deed versus deed in lieu back to the lender for a home included in bankruptcy in 2009?

Asked almost 2 years ago - Ellenwood, GA

I have moved out of the home and want to get the deed out of my name but I do not want them to foreclose. What can I do?

Attorney answers (3)

  1. David Jason Merbaum

    Contributor Level 12


    Lawyer agrees

    Answered . The bank will not take a quitclaim deed, which is basically you giving them the property or whatever your interest in the property is. You want a deed a lieu which is that you give them the property and they forego a foreclosure.

    This is not intended to create an attorney client relationship and none is to be implied either. You must contact... more
  2. Kevin M. Veler

    Contributor Level 15

    Answered . Unfortunately you cannot force the bank not to foreclose (unless there is some language in your 2009 bankruptcy proceeding that sets forth a process for you to walk away). You can offer a deed in lieu of foreclosure but they do not have to accept it and they may require some additional disclosures. You may want to discuss the matter with your bankruptcy counsel to determine whether there is any adverse impact on your bankruptcy proceeding or what your options are.

    Disclosure: This answer and any information contained in this answer is not intended to be treated as legal... more
  3. Alan D. Walton


    Contributor Level 19

    Answered . Contact the lender and offer a deed in lieu of foreclosure.

Related Topics

Real estate quitclaim deed

A quitclaim deed is used to transfer ownership without a sale taking place or verifying ownership. It's often used to transfer property between family members.

Property foreclosure

If you miss too many mortgage payments, your lender can start foreclosure proceedings to take ownership of the property, but it has to follow your state's laws.

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