Property Ownership
In Massachusetts, a 'deed in lieu of foreclosure' involves:
AA court-ordered transfer of property
BThe borrower voluntarily conveying the property to the lender to avoid the foreclosure process✓ Correct
CA lender's forgiveness of the entire mortgage balance
DA short sale where proceeds go to a third party
Explanation
A deed in lieu of foreclosure is a voluntary transaction where the borrower conveys the property to the lender in exchange for release from the mortgage obligation, avoiding a formal foreclosure proceeding.
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