Open Access. Powered by Scholars. Published by Universities.®
- Keyword
-
- Property (18)
- Mortgage (7)
- Real estate (7)
- Housing (5)
- Foreclosure (4)
-
- North carolina (4)
- ADR (3)
- Arbitration (3)
- Trusts (3)
- AAA (2)
- Affordable housing (2)
- Airspace (2)
- American Arbitration Association (2)
- Civil procedure (2)
- Class action (2)
- Collective redress (2)
- Condominium (2)
- Constitutional law (2)
- Dispute resolution (2)
- Eminent domain (2)
- Enforcement (2)
- Fair Housing (2)
- Fannie Mae (2)
- Federal Arbitration Act (FAA) (2)
- Financing (2)
- Freddie Mac (2)
- Gentrification (2)
- Global class action (2)
- ICC (2)
- Installment contract (2)
- Publication Year
Articles 31 - 52 of 52
Full-Text Articles in Law
Examining Compliance With Fiduciary Duties: A Study Of Real Estate Agents (With V. Carlos Slawson Jr.), Royce De R. Barondes, Carlos V. Slawson Jr.
Examining Compliance With Fiduciary Duties: A Study Of Real Estate Agents (With V. Carlos Slawson Jr.), Royce De R. Barondes, Carlos V. Slawson Jr.
Faculty Publications
The traditional default rule in the United States has been that, where two brokerage firms participate in the sale of a piece residential real estate, both firms are fiduciaries of the seller. This article provides original empirical evidence showing to be erroneous a common assumption - that, in conflicts between their principals and third parties, real estate agents promote their principals' interests - underlying revisions made in a number of jurisdictions to those principles in the last twenty years. This article examines whether agents act in accordance with their duties along two dimensions: First, we hypothesize that selling agents may …
Reforming Foreclosure: The Uniform Nonjudicial Foreclosure Act, Dale A. Whitman, Grant S. Nelson
Reforming Foreclosure: The Uniform Nonjudicial Foreclosure Act, Dale A. Whitman, Grant S. Nelson
Faculty Publications
The Uniform Nonjudicial Foreclosure Act is one of the few creative approaches to mortgage foreclosure to emerge in many decades. In this Article, the authors examine why uniformity in foreclosure law among the states in desirable and, accordingly, advocate foreclosure reform. They analyze the Act, promulgated in 2002, giving specific attention to the Act's new methods of foreclosure by negotiated sale and by appraisal. They also examine the Act's numerous special protections for residential debtors and consider the effectiveness of the Act's procedures concerning subordinate leases, titles arising from foreclosures, surpluses and deficiencies resulting from foreclosures, and fairness of foreclosure …
Are We There Yet? The Case For A Uniform Electronic Recording Act, Dale A. Whitman
Are We There Yet? The Case For A Uniform Electronic Recording Act, Dale A. Whitman
Faculty Publications
To implement digital recording, a confluence of several factors is necessary: political will on the part of the public officials involved (recorders and their political masters, usually county commissioners or supervisors), legal authority, and budgets adequate to the task. Without all of these factors, little progress is likely.
Chinese Mortgage Law: An American Perspective, Dale A. Whitman
Chinese Mortgage Law: An American Perspective, Dale A. Whitman
Faculty Publications
My objective in this paper is to compare and to evaluate some of the features of the American and Chinese systems. I do so without any preconception that the American system provides better answers, but with the recognition that it is far more mature and provides more answers. Hence it provides a reference point from which the Chinese system can be considered. Perhaps each system has something to teach the other.
Digital Recording Of Real Estate Conveyances, Dale A. Whitman
Digital Recording Of Real Estate Conveyances, Dale A. Whitman
Faculty Publications
The purpose of this article is to describe how such a revolutionary change in the recording system can take place, and to identify and discuss the major policy issues that must be resolved in order to accomplish it. This change ought to happen. Failure to update the system will result in the continued imposition of unnecessary costs and delays on those who buy, sell, or mortgage real estate in America.
Mortgage Drafting: Lessons From The Restatement Of Mortgages, Dale A. Whitman
Mortgage Drafting: Lessons From The Restatement Of Mortgages, Dale A. Whitman
Faculty Publications
The American Law Institute's adoption of the Restatement (Third) of Property: Mortgages may have significant impact on the negotiation and drafting of mortgages. Rather than merely reciting the prevailing case law, the Restatement proposes approaches the American Law Institute believes are desirable as a matter of sound policy. This Article highlights key areas in which the new Restatement may affect mortgage drafting and suggests useful techniques for mortgage drafters.
Reforming The Law: The Payment Rule As A Paradigm , Dale A. Whitman
Reforming The Law: The Payment Rule As A Paradigm , Dale A. Whitman
Faculty Publications
The concept of negotiability of promissory notes is solidly entrenched in American commercial law. It derives from the English common law notion that a negotiable instrument is a reification of the obligation it describes; the instrument is regarded as a tangible form of the obligation. This notion has multiple ramifications, but three stand out. The first is the holder in due course doctrine which asserts that, when a negotiable instrument is transferred by the correct process (negotiation, which requires delivery of the paper) to someone with the right qualities (good faith, lack of notice, and payment of value), the maker …
Rethinking Proceeds: The History, Misinterpretation And Revision Of U.C.C. Section 9-306, R. Wilson Freyermuth
Rethinking Proceeds: The History, Misinterpretation And Revision Of U.C.C. Section 9-306, R. Wilson Freyermuth
Faculty Publications
This article provides a careful analysis of the proper scope of the term “proceeds” under Section 9-306. Parts II and III develop a coherent conception of the term “proceeds” by focusing upon the proper interpretation of Section 9-306 in its current form. Part II evaluates the passage of title conception of proceeds in light of the 1972 and 1987 amendments to Article 9 and demonstrates that this conception is fundamentally inconsistent with the economic, value-based conception of proceeds that emerges from those amendments. Using this emerging conception of proceeds, which focuses upon the occurrence of an event that exhausts or …
Rethinking Future Advance Mortgages: A Brief For The Restatement Approach, Dale A. Whitman, Grant S. Nelson
Rethinking Future Advance Mortgages: A Brief For The Restatement Approach, Dale A. Whitman, Grant S. Nelson
Faculty Publications
The advantages of such arrangements, under which the mortgagor takes none or only a portion of the loan at the outset but receives the balance in the future, are substantial. The mortgagor saves interest on the unadvanced portion until it is needed and avoids the need to invest this portion at an interest rate that at least equals the rate being paid to the lender. Moreover, both parties avoid the expense and paperwork inherent in refinancing the initial loan or in executing a series of junior mortgages to secure each advance. Finally, in the construction loan context, before committing large …
Of Hotel Revenues, Rents, And Formalism In The Bankruptcy Courts: Implications For Reforming Commercial Real Estate Finance, R. Wilson Freyermuth
Of Hotel Revenues, Rents, And Formalism In The Bankruptcy Courts: Implications For Reforming Commercial Real Estate Finance, R. Wilson Freyermuth
Faculty Publications
This article is intended to continue the dialogue begun by the proposed Restatement and has two distinct goals in this effort. Parts I through III argue that the position of the Restatement drafters is both legally and functionally sound and that bankruptcy courts should embrace and apply the proposed Restatement in administering distressed real estate developments. Part I reviews the reasoning articulated in the hotel bankruptcy cases, demonstrating how courts have applied the provisions of the Bankruptcy Code and state law in a formalistic manner to extinguish the hotel mortgagee's lien upon postpetition room revenues. Part II rejects the analysis …
Mortgage Prepayment Clauses: An Economic And Legal Analysis, Dale A. Whitman
Mortgage Prepayment Clauses: An Economic And Legal Analysis, Dale A. Whitman
Faculty Publications
Most mortgages on income-producing real estate (as distinct from owner-occupied housing) contain clauses restricting early payment of the loan. These clauses are highly controversial, and borrowers often resist their enforcement. While other writers have discussed prepayment clauses in the recent legal literature, my objectives in this article are to advance this discussion in three respects: first, to provide an economic perspective on mortgage prepayment as support for a set of legal recommendations; second, to consider whether the bankruptcy of the mortgagor should affect enforceability of a prepayment fee clause; and third, to analyze the cumulative effect of the presence in …
Installment Land Contracts--The National Scene Revisited, Dale A. Whitman, Grant S. Nelson
Installment Land Contracts--The National Scene Revisited, Dale A. Whitman, Grant S. Nelson
Faculty Publications
In 1977 we published an article in this Review that discussed the legal aspects of the installment land contract. The installment contract was then, and continues to be, widely used as a device for seller financing of real estate. In our judgment, and increasingly in the judgment of the courts, that is a mistake. Few situations, if any, would lead an informed lawyer to advise his client to use an installment contract rather than its financing cousin, the note secured by a mortgage or deed of trust. Since the prior article was published, the courts have continued to place impediments …
Preface: Missouri Law Review--1913-1936-1986, Dale A. Whitman
Preface: Missouri Law Review--1913-1936-1986, Dale A. Whitman
Faculty Publications
The half-century from 1936 to 1986 has seen astonishing growth in the law and in legal education. Among countless illustrations are the enormous expansion of the law of products liability, the promulgation and adoption of numerous Model and Uniform Acts and Codes, and the adoption of the Federal Rules of Civil Procedure and of Evidence. In Missouri, procedural civil and criminal codes have been created, a new Constitution has been adopted, and the judiciary has recently abandoned the doctrine of contributory negligence in favor of a system of pure comparative fault, working a fundamental change in our common law of …
Congressional Preemption Of Mortgage Due-On-Sale Law: An Analysis Of The Garn-St. Germain Act, Dale A. Whitman, Grant S. Nelson
Congressional Preemption Of Mortgage Due-On-Sale Law: An Analysis Of The Garn-St. Germain Act, Dale A. Whitman, Grant S. Nelson
Faculty Publications
We first describe the several major types of mortgagor transfer restrictions, and the judicial and legislative responses to these restrictions before the Act. Second, we analyze the effect and coverage of the important provisions of the Act and its attendant regulation. The complex exceptions to the application of the Act known as “window periods” are then considered. These window periods were created by Congress in an attempt to soften the impact of the Act on states that previously restricted due-on-sale enforcement, and are based on preexisting state law. We examine the difficult standards for identifying such window periods and suggest …
Secrecy And Real Property, Dale A. Whitman
Secrecy And Real Property, Dale A. Whitman
Faculty Publications
It is not unusual for owners of real property to wish to conceal from government or the public either the fact of their ownership or certain salient characteristics of the property they hold. The objective of this article is to consider the extent to which this desire for secrecy is supported by sound policy and American legal doctrine. It will focus on the civil recourse available to an owner of real property against private persons who, without the owner's knowledge and consent, reveal information about the ownership or physical characteristics of the property. The article will also consider whether the …
Financing Condominiums And Cooperatives, Dale A. Whitman
Financing Condominiums And Cooperatives, Dale A. Whitman
Faculty Publications
This article will deal with legal problems relating to the financing of condominiums and cooperatives. While space does not permit a detailed treatment of the non-financing aspects of these forms of ownership, a rudimentary overview of the legal relationships involved will preface discussion of the central topic. Both condominiums and cooperatives are legal formats for “unit ownership” – that is, the ownership of a physically defined portion of a larger parcel of (usually improved) real property. In the majority of cases, the “unit” is a residential apartment in a multifamily housing project. Condominiums are much more tightly controlled by stage …
The Installment Land Contract--A National Viewpoint, Dale A. Whitman, Grant S. Nelson
The Installment Land Contract--A National Viewpoint, Dale A. Whitman, Grant S. Nelson
Faculty Publications
The installment land contract is rarely used in some states, but in many it is the predominant means of vendor financing of land sales. Much has been written about it, but nearly all of the literature focuses on the law of one particular state or another. Our purpose here is to provide a nationwide perspective, with particular attention to the states in which the contract has been widely used and extensively litigated. We propose to examine the reasons for the installment contract's popularity, its advantages and disadvantages, and the risks it presents to both vendor and purchaser.
Optimizing Land Title Assurance Systems, Dale A. Whitman
Optimizing Land Title Assurance Systems, Dale A. Whitman
Faculty Publications
There is little unanimity of viewpoint concerning the complex and controversial subject of real estate settlement costs. The diverse interests and pressure groups seem to agree, however, that the public land title records of most jurisdictions are disarrayed, complicated, and inefficiently organized. This observation has been made with such frequency and conviction that it appears beyond dispute, and it will not be contested here.
Defending The Low-Income Tenant In North Carolina, Dale A. Whitman
Defending The Low-Income Tenant In North Carolina, Dale A. Whitman
Faculty Publications
The low-income tenant is in a uniquely precarious position under the law. He typically holds under an oral lease, often on an implied periodic tenancy from week to week. Even where a written lease is executed, it is almost invariably on a form prepared by the landlord. The tenant has little bargaining power in today's urban housing markets; moreover, he is usually not represented by counsel and is unable to intelligently exert whatever bargaining power he may possess. The land- lord is generally a professional in the renting business, and knows well how to manipulate the legal rules for his …
Transferring North Carolina Real Estate Part Ii--Roles, Ethics, And Reform, Dale A. Whitman
Transferring North Carolina Real Estate Part Ii--Roles, Ethics, And Reform, Dale A. Whitman
Faculty Publications
As we have seen in Part I of this article, prevailing practices in the transfer of North Carolina real estate are seriously deficient in their substantive protection of the buyer. Part II will explore whether these practices also violate the norms of professional conduct and will conclude with some proposals which should ameliorate both the substantive and ethical deficiencies which face the real estate buyer. Before doing so, however, it seems appropriate to discuss in some detail the roles of various actors in the typical transaction and the types of persons who fill those roles.
Transferring North Carolina Real Estate Part I--How The Present System Functions, Dale A. Whitman
Transferring North Carolina Real Estate Part I--How The Present System Functions, Dale A. Whitman
Faculty Publications
As we have seen in Part I of this article, prevailing practices in the transfer of North Carolina real estate are seriously deficient in their substantive protection of the buyer. Part II will explore whether these practices also violate the norms of professional conduct and will conclude with some proposals which should ameliorate both the substantive and ethical deficiencies which face the real estate buyer. Before doing so, however, it seems appropriate to discuss in some detail the roles of various actors in the typical transaction and the types of persons who fill those roles.
Survey Of Recent Developments In The North Carolina Law Of Eminent Domain, Dale A. Whitman
Survey Of Recent Developments In The North Carolina Law Of Eminent Domain, Dale A. Whitman
Faculty Publications
The recent opinions of the North Carolina appellate courts include a strikingly large proportion of eminent-domain cases. Two factors combine to explain the unusual frequency with which these cares are tried and appealed. The first is the elaborate activity of the federal government in funding local and state projects involving the acquisition of land. The Interstate Highway program probably accounts for the predominant portion of this activity, with other shares attributable to urban renewal, public housing, and airport improvement. When the more traditional activities of local government, such as street-widening and other public improvements, are added to the above list …