The buyer does not want to go through a foreclosure but is unable to maintain the payments on the property. The property is considered prime real estate by the appraisers and the bank, so the lender agrees to allow the owner to give a deed in lieu of a foreclosure. What is a deed in lieu of foreclosure?
A. A mortgage agreement
B. A legal document transferring ownership of the property to the lender
C. A court order to seize the property
D. A lease agreement with an option to buy
