Renegotiation in the Common Law Mortgage and the Impact of Equitable Redemption

Topics:
Real Estate Services
Tags:
Business Operations,
Capital Structures,
Finance,
Massachusetts Institute Of Technology,
Mortgages,
Real Estate,
Redemption
Source:
Massachusetts Institute of Technology

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Overview: This paper seeks to fill a gap in the real estate finance literature by linking the well-known history of the Anglo-American mortgage recorded by legal scholars with the recent literature on security design and incomplete contracting in order to explain and evaluate several unique features of the mortgage. In particular, the paper investigates how a conditional transfer of ownership to a lender and the institution called the equity of redemption affect mortgage renegotiation and therefore the value of mortgaged real estate.

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Format: PDF | Size: 322KB | Date: Nov 2004 | Pages: 43


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