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.
Collateral descendants are not part of your direct line; they are relatives descended from a sibling of an ancestor -- such as uncles, aunts, nieces, nephews and cousins.References.hether you're tracing the roots of your family tree or trying to determine descendent's of a family member for legal reasons, understanding the difference between lineal and collateral descendants is helpful.