Property Law and Real Estate Commons^™

The Tax Treatment Of Cancelled Interest And Penalties On Consumer Debt, Richard C.E. Beck

NYLS Law Review

No abstract provided.

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 …

2000 Survey Of Florida Law: Real Property, Ronald B. Brown, Joseph M. Grohman

Faculty Scholarship

No abstract provided.

Residential Liens And Foreclosures (Oklahoma Focus), Monica Amis Wittrock

Oklahoma Law Review

No abstract provided.

Foreclosing On The American Dream: An Evaluation Of State And Federal Foreclosure Laws, Debra Pogrund Stark

Oklahoma Law Review

No abstract provided.

The New Federal Foreclosure Laws, Patrick A. Randolph Jr.

Oklahoma Law Review

No abstract provided.

Property Law: 1995 Survey Of Florida Law, Ronald B. Brown, Joseph M. Grohman, Manuel R. Valcarcel Iv

Faculty Scholarship

No abstract provided.

Bfp V. Resolution Trust Corporation: Supreme Court Shifts Focus Onto State Law In Ruling On Mortgage Foreclosure Sales, Audy M. Perry Jr.

West Virginia Law Review

No abstract provided.

The Relevance Of Water “Ownership” To Water Markets And Other Issues, Barton H. Thompson, Jr.

Water Organizations in a Changing West (Summer Conference, June 14-16)

31 pages.

Contains references.

Mortgages Substitutes—The Law In Arkansas, Glenn E. Pasvogel Jr.

University of Arkansas at Little Rock Law Review

No abstract provided.

California's Foreclosure Statutes: Some Proposals For Reform, Cynthia Mertens

Faculty Publications

Spurred by the harsh economics of the Great Depression, California enacted several statutes designed to protect pledgors of real property from unfair and often ruinous deficiency judgments. This legislation includes Code of Civil Procedure sections 580a,the fair value section, 580b,the purchase-money anti-deficiency statute, 580d; the nonjudicial foreclosure anti-deficiency statute, and 726, the "one-action" rule. Three decades of judicial interpretation, however, have created a body of case law which fails to advance the legislative purposes upon which the courts purportedly base their decisions.

The time has come for California to substantially revise its Depression-era anti-deficiency legislation in order to express and …

Special Declarant Rights And Obligations Following Mortgage Foreclosure On Condominium Developments, Carol Jane Brown

William & Mary Law Review

No abstract provided.

Land Banking Tax Delinquent Property: Reform And Revitalization, Patricia A. Hemann

Cleveland State Law Review

This note will examine the role of land banking generally in the urban revitalization process, describe the changes made by House Bill 1327 in proceedings for foreclosure of tax liens, outline the mechanism of a land reutilization program, and discuss the viability of an LRP in Ohio as both a method of reducing tax delinquency rates and a tool for redevelopment of the inner city.

Land Banking Tax Delinquent Property: Reform And Revitalization, Patricia A. Hemann

Cleveland State Law Review

This note will examine the role of land banking generally in the urban revitalization process, describe the changes made by House Bill 1327 in proceedings for foreclosure of tax liens, outline the mechanism of a land reutilization program, and discuss the viability of an LRP in Ohio as both a method of reducing tax delinquency rates and a tool for redevelopment of the inner city.

Constitutional Law - Due Process - Notice By Publication Is Constitutionally Inadequate In Tax Sale Proceeding, Martin A. Geer

Scholarly Works

In 1976 the Michigan Supreme Court’s determined in Doe v. State that procedural due process requires an owner of a significant interest in real property to be given notice of the state’s foreclosure petition and a meaningful opportunity for a hearing which he may challenge the state’s claim that property taxes remain unpaid without legal justification. This casenote examines the existing legal precedent during the Doe v. State decision, the Michigan Supreme Court’s decision and analysis, and the legislature’s actions following the decision.

Protecting The Rights Of Purchasers Of Condominium Units, Jeffry R. Dwyer

Fordham Urban Law Journal

The late 1960s and early 1970s have witnessed an unprecedented boom in both construction and conversion condominiums. The inflationary spiral of the 1970s caused many developers of partially completed rental projects to seek substantial loan increases to cover cost overruns. Such loan increases often could not be justified by rental income projections. Accordingly, many developers and lenders turned to condominium conversions as a panacea for project cost overruns. However, with a shortage of end loan money, developers and lenders were left with unsold "inventory," increasing in cost with each passing day. Indeed, many developers of condominium units found themselves in …

Foreclosure Without Disclosure - Cooper-Merriken Fertilizers, Inc. V. Smith, Berryl A. Speert

Maryland Law Review

No abstract provided.

The Nature And Scope Of Federal Tax Liens With A Special Consideration Of Their Effect On Mortgage Foreclosures, William F. Mosner

Maryland Law Review

No abstract provided.

Constitutional Law - Due Process - Notice Required To Validate Tax Foreclosure Of Property Of Known Mental Incompetent, Frank M. Lacey S.Ed.

Michigan Law Review

On May 8, 1952, the town of Somers instituted an action to foreclose a number of tax liens. One of these was upon the property owned by a person known in the community to be a mental incompetent, but who had not yet been so certified by a court. Notice was given to the incompetent taxpayer in compliance with the statute by mail, posting, and publication. When she failed to answer within the prescribed period, foreclosure was entered and a deed to her property delivered to the town. Five days later she was declared a person of unsound mind, and …

The Installment Land Contract As A Junior Security, E. George Rudolph

Michigan Law Review

It is the purpose of this paper to explore the problems of one group whose members are increasingly, and more or less as a matter of necessity, finding themselves in the role of mortgagees, or vendors under installment purchase contracts, although they do not fit the assumed pattern. This group consists of persons who own homes subject to existing mortgages and for one reason or another decide to sell. The existing mortgages may be insured by the Federal Housing Administration or by the Veterans Administration or they may be uninsured mortgages held by building and loan associations or other financial …

Mortgages - Redemption - Right Of Mortgagee To Require Partial Redemption, James S. Taylor S.Ed.

Michigan Law Review

The mortgagor of the premises in question died leaving as his heirs-at-law the plaintiff and eight other children. Shortly thereafter, the mortgagee commenced proceedings to foreclose the mortgage under a power of sale. Pending these proceedings the plaintiff entered the military service of the United States and thus became entitled under the Soldiers and Sailors Civil Relief Act of 1940 to protection against the exercise of the power of sale. The mortgagee purchased at the foreclosure sale and thereafter made extensive improvements on the land. Plaintiff brought a bill to redeem the premises, tendering the entire amount of the mortgage …

Conflict Of Laws-Property-Law Governing Mortgage Deficiency Judgments, William O. Allen S.Ed.

Michigan Law Review

Defendant, a Michigan corporation, became a guarantor on a mortgage of land located in Alabama. Both the mortgage and underlying note were executed in Alabama and the note was payable there. Upon default, mortgagee, acting under a power of sale, foreclosed the mortgage and became the purchaser at the sale, which was duly conducted according to Alabama law. Mortgagee then brought this action in the federal district court for Michigan to recover the deficiency remaining due after foreclosure. Defendant claimed that the fair market value of the mortgaged property exceeded the balance due on the mortgage debt, and that under …

Mortgages-Mortgagee's Rights Against Tenant Who Occupies Premises Under Subsequent Lease By Mortgagor, Charles E. Becraft S. Ed.

Michigan Law Review

It is the purpose of this comment to discuss possible rights of the mortgagee or the purchaser at foreclosure sale, who stands in the place of the mortgagee, in dealing with a tenant of the mortgagor who holds under a lease subsequent to execution of the mortgage. Only the law of those states in which the lien theory of mortgages is in force will be considered.

Constitutional Law--Impairment Of Obligation Of Contract--Mortgage Moratorium--Determination Of The Existence Of An Emergency, George Brody

Michigan Law Review

In 1943 the New York State Legislature extended its moratorium legislation for another year, thereby continuing the suspension of mortgage foreclosure proceedings on real property due to default in payments on principal. The legislature declared that an emergency still existed and therefore the continuance of legislative action, first taken in 1933, was justified. The law made payment of interest, taxes, insurance and amortization charges a prerequisite to suspension of foreclosure. Appellant brought an action to foreclose a mortgage on appellee's property for the non-payment of principal, contending that the suspension of foreclosure proceedings resulted in an impairment of the obligation …

Secured Obligations, Benjamin M. Quigg, Jr.

Michigan Law Review

The scope of this discussion probably is best defined in the words of the act itself as appear in section 302 (1): "obligations secured by mortgage, trust deed, or other security in the nature of a mortgage · upon real or personal property, owned by a person in military service at the commencement of the period of military service"; and the problems herein discussed are those which arise under the act in connection with the sale, foreclosure, seizure, or repossession of property which is security for such obligations.

Taxation - Tax Delinquent Lands - The Michigan Land Board Act As A Solution To The Delinquency Problem, Rex B. Martin

Michigan Law Review

Nearly all states have been faced with the increasingly difficult problem of what to do with the growing volume of tax delinquent land which has been thrown upon their hands. As a typical example of the financial aspects of this problem, Michigan in 1928 had over $25,000,000 worth of delinquent taxes on 8,757,000 acres of property. In 1932 this acreage was estimated at 15,660,000. By 1937 the unpaid taxes in some of Michigan's counties exceeded five times the assessed value of the delinquent properties. Much of the property could not be sold for the amount of taxes owed, and the …

Deeds - Covenant Of Warranty Limited By Exceptions In Another Covenant, Seward R. Stroud

Michigan Law Review

A mortgaged land to B and thereafter executed a second mortgage on the same land to C. In the second mortgage, A covenanted that "they are seized of good and perfect title . . . in fee simple and that the title so conveyed is clear, free and unincumbered except . . . (the Hixton Bank mortgage) [mortgage to B] and that they will forever warrant and defend the same . . . against all claims whatsoever." The first mortgage to B was foreclosed, and B purchased at the foreclosure sale. B sold the land to A, …

Mortgages - Set-Off In Action Against Assuming Grantee On Third Party Beneficiary Theory, Anthony L. Dividio

Michigan Law Review

Evans and Fulmer entered into an agreement for an exchange of two pieces of property. Fulmer assumed two mortgages on the property conveyed to her. According to the agreement, Evans gave a first mortgage on the property conveyed to him to a third person and a second mortgage to Fulmer. Evans defaulted on the first mortgage assumed by him; Fulmer, who held the second mortgage, foreclosed and as a result suffered a $17,000 loss. Later, Evans regained possession of the promissory notes evidencing the second mortgage on the property conveyed to Fulmer, and assigned them to Goldfarb who sued Fulmer, …

Election Of Remedies - Deficiency Decree As Bar To Subsequent Suit On Debt, Donald H. Larmee

Michigan Law Review

After foreclosure in Florida of a purchase money mortgage on Florida land, the mortgagee filed a claim for the deficiency against the estate of one of the co-mortgagors, who was a permanent resident of Michigan, and who had been served only by publication in the foreclosure suit. In the foreclosure proceedings the mortgagee had prayed for a deficiency decree, and the Florida court had retained jurisdiction for that purpose, after ordering the sale. The mortgagee had taken no further steps in that proceeding. Held, the Florida law was controlling, and that by Florida statutes, as construed by the courts …

Foreclosure Receiverships In Kentucky, Martin R. Glenn

Kentucky Law Journal

No abstract provided.