The Texas Conveyance of Deed to Lender in Lieu of Foreclosure is a legal process through which a property owner in Texas transfers ownership of their property to the lender in order to avoid a foreclosure. This voluntary transfer of the property title is done by the borrower (also known as the granter) in exchange for the lender (also known as the grantee) agreeing not to proceed with the foreclosure process. In Texas, there are various types of Conveyance of Deed to Lender in Lieu of Foreclosure that can be executed, depending on the specific circumstances of the borrower and the lender. These may include: 1. Traditional Deed in Lieu of Foreclosure: This is the standard form of conveyance where the property owner voluntarily transfers the deed to the lender, absolving themselves of further mortgage obligations. 2. Conditional Deed in Lieu of Foreclosure: This type of conveyance involves certain conditions that must be met by the borrower to complete the transfer. These conditions can include the forgiveness of certain debts, payment of outstanding fees, or other specific terms agreed upon by the parties. 3. Deficiency Waiver Deed in Lieu of Foreclosure: In this scenario, the lender agrees to waive any deficiency balance owed by the borrower after the conveyance of the property. This means that the borrower will not be held responsible for the difference between the outstanding loan balance and the sale price or fair market value of the property. 4. Partial Release Deed in Lieu of Foreclosure: This type of conveyance allows the borrower to transfer ownership of a portion of the property to the lender, typically in exchange for a release of the mortgage lien on the remaining portion of the property. It can be a practical option when a borrower only wants to relinquish a specific part of the property to satisfy their debt. 5. Junior Lien holder Agreement: When a property has multiple liens, a junior lien holder (such as a second mortgage lender) can participate in the conveyance process with the primary lender. This involves negotiations between both lenders to determine how the ownership transfer will affect their respective interests. It is important to note that specific legal requirements and procedures may vary depending on the terms of the mortgage agreement and applicable Texas state laws. Seeking professional legal advice from a qualified real estate attorney is highly recommended navigating the complexities of the Conveyance of Deed to Lender in Lieu of Foreclosure process in Texas.