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Full-Text Articles in Law
Crypto In Real Estate Finance, R. Wilson Freyermuth, Christopher K. Odinet, Andrea Tosato
Crypto In Real Estate Finance, R. Wilson Freyermuth, Christopher K. Odinet, Andrea Tosato
Faculty Publications
Blockchain and cryptocurrencies have ushered in a digital gold rush. But all that glitters is not gold. The latest fad is the use of non-fungible tokens (NFTs) to purchase and finance real estate. Typically, crypto real estate transactions begin with the transfer of title for a residential property into a dedicated business entity, such as a limited liability company. Thereafter, an NFT is ‘minted’ and used to represent the ownership interest in that entity. The real property is then marketed online specifying that, to acquire it, one simply purchases the relevant NFT via a blockchain transfer. Crucially, buyers are expected …
Enforcement Of Acceleration Provisions And The Rhetoric Of Good Faith, R. Wilson Freyermuth
Enforcement Of Acceleration Provisions And The Rhetoric Of Good Faith, R. Wilson Freyermuth
Faculty Publications
Today, virtually all mortgages contain acceleration clauses permitting the mortgagee to accelerate the mortgage indebtedness upon default by the mortgagor as defined in the mortgage loan documentation. Section 8.1 of the new Restatement (Third) of Property: Mortgages [hereinafter Mortgages Restatement]1 endorses the view that these mortgage acceleration provisions are generally enforceable after default in accordance with their terms. Following default and acceleration, the mortgagor may prevent foreclosure only by redeeming the property from the mortgage debt, i.e., “only by paying or tendering to the mortgagee the full accelerated mortgage obligation.” Section 8.1(d)(3), however, places certain constraints upon the mortgagee's right …