Kate Williams wrote this bylined article on a New York Bankruptcy Court decision that the parties’ written agreement to condition a property conveyance upon any future default by the borrower was no more than a mortgage. Thus, Ms. Williams wrote, if such a deed in lieu of foreclosure “is truly contemplated to be a conveyance of a property, it should be negotiated after a borrower’s default in exchange for the release of debt, rather than as security for any future default.”

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