Gift, Deed-In-Lieu of Foreclosure, and Tax Deeds

In a recent blog we discussed grant, warranty, and quitclaim deeds, all of which are used to give ownership of a property to the holder of the deed for that property. In this week’s blog we’ll cover some of the lesser known types of deeds that are not used as commonly but still may apply in certain situations. These include gift deeds, deeds-in-lieu of foreclosure, and tax deeds.

Gift Deeds

Gift deeds are used to transfer property without money. Gift deeds are commonly used when property is transferred between relatives.

Deed-In-Lieu of Foreclosure

This deed may be used when the seller of a property is under threat of foreclosure. The seller may ask the seller to accept the deed-in-lieu of foreclosure to avoid foreclosure.

Tax Deed

Tax deeds are used when the home is sold to pay unpaid property taxes.


types of property deeds



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