Problem.Deeds in lieu

     In connection with Dee's purchase of a home, Lewis, the seller, carried back a note secured by a second deed of trust. Prior to the close of escrow, Dee also executed in Lewis's favor a quitclaim deed to the property being purchased and deposited the quitclaim deed with the escrow together with instructions that the quitclaim deed was to be recorded only upon default in payment of the note to Lewis. Upon default, the escrow recorded the quitclaim. Upon receiving an eviction notice from Lewis, Dee consults you for advice. What is your advice to Dee? How does this situation differ from the situation considered in Guam Hakubotan, Inc. v. Furusawa Investment Corp? Suppose instead that Lewis first proposed to take a deed in lieu after Dee's default, in exchange for payment by Lewis to Dee of 50% of Dee's equity in the property.  Would such a transaction be immune from later attack by Dee? By Dee's unsecured creditors? By a Chapter 7 bankruptcy trustee in Dee's Chapter 7 proceeding? By the debtor-in-possession in Dee's Chapter 11 proceeding?