With a deed in lieu of foreclosure, the deficiency amount is the difference between the fair market value of the property and the total debt. In most cases, completing a deed in lieu will release the borrowers from all obligations and liability under the mortgage, but this is not always the case.
Lineal Descendant. (n) Lineal descendants are the direct line of relationship flowing downwards from an individual starting with his children, grand children and their children and so on. Unlike collateral descendants it wont include brothers and sisters.
Descent requires, firstly, that one be a blood relative. Lineal Descent is in a direct line, such as from parent to child, or grandparent to grandchild. Collateral Descent is indirect; i.e., up to one ancestor, and then down again, such as from brother to brother, cousin to cousin, uncle to nephew, etc. Line of Descent is the order of succesion of blood relatives from their common ancestor. Lines of descent are lineal or collateral, and maternal or paternal.