How is a deed in lieu of foreclosure treated?
August 21, 2008
From: Selma
Date: Fri, 16 Nov 2007
Thanks for your article on short sale v. foreclosure. What about a deed in lieu of foreclosure?
Thank you, Selma
Answer
Date: 27 Nov 2007
Hello Selma,
A deed in lieu of foreclosure is taxed the same as a foreclosure. The tax law focuses on settlement of debt by a transfer of property.
Good luck!
Mike Gray
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