Deed in lieu of Foreclosure A deed instrument in which a homeowner conveys all interest in a real property to the mortgagee (i.e. the bank) to satisfy a loan that is in default and avoid foreclosure proceedings. Jayne is a partner at the law firm Sykora & Santini. Prior to law school, Jayne began her professional career as a marketing professional for American Republic Insurance Company in Des Moines, Iowa. Read more posts by Jayne Sykora.