A mortgage is a legal instrument of the common law which is used to create a security interest in real property held by a lender as a security for a debt, usually a mortgage loan. Hypothec is the corresponding term in civil law jurisdictions, albeit with a wider sense, as it also covers non-possessory lien.
This aims to be a complete list of the articles on real estate.
Lochner v. New York, 198 U.S. 45 (1905), was a landmark decision of the U.S. Supreme Court holding that a New York State statute that prescribed maximum working hours for bakers violated the bakers' right to freedom of contract under the Fourteenth Amendment to the U.S. Constitution. The decision has since been effectively overturned.
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan.
Judicial notice is a rule in the law of evidence that allows a fact to be introduced into evidence if the truth of that fact is so notorious or well-known, or so authoritatively attested, that it cannot reasonably be doubted. This is done upon the request of the party seeking to rely on the fact at issue. Facts and materials admitted under judicial notice are accepted without being formally introduced by a witness or other rule of evidence, even if one party wishes to plead evidence to the contrary.
Article I, Section 10, Clause 1 of the United States Constitution, known as the Contract Clause, imposes certain prohibitions on the states. These prohibitions are meant to protect individuals from intrusion by state governments and to keep the states from intruding on the enumerated powers of the U.S. federal government.
Keystone Bituminous Coal Ass'n v. DeBenedictis, 480 U.S. 470 (1987), is a United States Supreme Court case interpreting the Fifth Amendment's Takings Clause. In this case, the court upheld a Pennsylvania statute which limited coal mining causing damage to buildings, dwellings, and cemeteries through subsidence.
Blaisdell is a surname. Notable people with the surname include:
Bank of America National Trust and Savings Association v. 203 North LaSalle Street Partnership, 526 U.S. 434 (1999), was a decision by the United States Supreme Court.
The Pacific Legal Foundation (PLF) is an American nonprofit public interest law firm established for the purpose of defending and promoting individual freedom. PLF attorneys provide pro bono legal representation, file amicus curiae briefs, and hold administrative proceedings with the stated goal of supporting property rights, equality and opportunity, and the separation of powers. The organization is the first and oldest libertarian public interest law firm, having been founded in 1973.
A deed of trust refers to a type of legal instrument which is used to create a security interest in real property and real estate. In a deed of trust, a person who wishes to borrow money conveys legal title in real property to a trustee, who holds the property as security for a loan (debt) from the lender to the borrower. The equitable title remains with the borrower. The borrower is referred to as the trustor, while the lender is referred to as the beneficiary.
Loss mitigation is used to describe a third party helping a homeowner, a division within a bank that mitigates the loss of the bank, or a firm that handles the process of negotiation between a homeowner and the homeowner's lender. Loss mitigation works to negotiate mortgage terms for the homeowner that will prevent foreclosure. These new terms are typically obtained through loan modification, short sale negotiation, short refinance negotiation, deed in lieu of foreclosure, cash-for-keys negotiation, a partial claim loan, repayment plan, forbearance, or other loan work-out. All of these options aim to reduce financial risks for the lender.
The Dirty Dozen: How Twelve Supreme Court Cases Radically Expanded Government and Eroded Freedom is a Cato Institute book, written by Robert A. Levy and William Mellor and released in May 2008, about twelve U.S. Supreme Court decisions that were viewed as greatly undermining individual freedom by expanding the power of government. The book was the subject of many reviews and much press. It was released around the time that Levy gained media attention as the organizer and financier behind District of Columbia v. Heller.
Loan modification is the systematic alteration of mortgage loan agreements that help those having problems making the payments by reducing interest rates, monthly payments or principal balances. Lending institutions could make one or more of these changes to relieve financial pressure on borrowers to prevent the condition of foreclosure. Loan modifications have been practiced in the United States since the 1930s. During the Great Depression, loan modification programs took place at the state level in an effort to reduce levels of loan foreclosures.
Landmark National Bank v. Kesler is a Kansas Supreme Court case involving the standing, rights, and interests of Mortgage Electronic Registration Systems (MERS). On August 28, 2009, the court held that all indispensable parties must be identified and that the actual lender identified in foreclosure actions to protect each party's rights. The decision also addressed the role MERS plays in clouding the ownership of the promissory note and title to the property.
Louisville Joint Stock Land Bank v. Radford, 295 U.S. 555 (1935), was a decision by the Supreme Court of the United States that held that the Frazier–Lemke Farm Bankruptcy Act was an unconstitutional violation of the Fifth Amendment Takings Clause because it interfered with farmers' property rights in contracts they made with the United States. This unanimous decision was one of the Court's many rulings that overturned President Roosevelt's New Deal.
During the 1930s, the New Deal was often subjected to scrutiny, and had many constitutional challenges. Roosevelt was wary of the U.S. Supreme Court early in his first term, and his administration was slow to bring constitutional challenges of New Deal legislation before the Court; however, early wins for New Deal supporters came at the start of 1934 in Home Building & Loan Association v. Blaisdell and Nebbia v. New York. At issue in each case were state laws relating to economic regulation. Blaisdell concerned the temporary suspension of creditor's remedies by Minnesota in order to combat mortgage foreclosures, finding that temporal relief did not in fact impair the obligation of a contract. Nebbia held that New York could implement price controls on milk, in accordance with the state's police power. While not tests of New Deal legislation themselves, the cases gave cause for relief of administration concerns about Associate Justice Owen Roberts, who voted with the majority in both cases. Roberts's opinion for the court in Nebbia was encouraging for the administration, as it read: "[T]his court from the early days affirmed that the power to promote the general welfare is inherent in government." Nebbia also holds a particular significance, since it was the one case in which the Court abandoned its jurisprudential distinction between the public and private spheres of economic activity, an essential distinction in the court's analysis of state police power. The effect of this decision radiated outward, affecting other doctrinal methods of analysis in wage regulation, labor, and the power of the U.S. Congress to regulate commerce.
Acceleration is defined in law as a shortening of the time period in which something is to take place.
State defaults in the United States are instances of states within the United States defaulting on their debt. The last instance of such a default took place during the Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. Current U.S. bankruptcy law, an area governed by federal law, does not allow a state to file for bankruptcy under the Bankruptcy Code. Certain politicians and scholars have argued that the law should be amended to allow states to file for bankruptcy.
