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.
Descendants are those who are the issue of an individual, such as children, grandchildren, and their children, to the remotest degree. Descendants are those in a descending line of birth from an individual, rather than an ascending line, such as to the parents of the individual.