Property Ownership
In Kansas, what is a deed in lieu of foreclosure?
AA court order transferring title from a defaulting borrower to the lender
BA voluntary transfer of title from a defaulting borrower to the lender to avoid foreclosure proceedings✓ Correct
CA deed executed after the foreclosure sale
DA deed conveying property to a new buyer at auction
Explanation
A deed in lieu of foreclosure is a voluntary transfer of property from the defaulting borrower to the lender to satisfy the debt and avoid a lengthy foreclosure process.
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