Problem 3. Absolute Deed or Equitable Mortgage? Variation 1 (Easy Mortgage Case) April 1: Lambert pays Wells $160K

Size: px
Start display at page:

Download "Problem 3. Absolute Deed or Equitable Mortgage? Variation 1 (Easy Mortgage Case) April 1: Lambert pays Wells $160K"

Transcription

1 Problem 3 April 1: Lambert pays Wells $160K Wells executes a deed of Greenacre to Lambert Wells remains in possession of the home Agreement: if Wells repays $168K to Lambert on or before August 1, he will deed home back to her August 1: Wells doesn t repay September 1: When Wells tries to pay Lambert, he brings unlawful detainer action to eject Wells from Greenacre and obtain possession How should the court rule? Absolute Deed or Equitable Mortgage? Did Lambert really buy ownership of the land (was this a sale ), or was he just using title to the land to secure Wells s obligation to repay the money? If it is the latter, and this fact is proven by clear and convincing evidence, then Lambert s deed is deemed in equity to be a mortgage He would have to foreclose (by judicial foreclosure, since the deed would not have a power of sale in it) What info is relevant in making this judgment? Relevant Restatement factors [p. 301] Statements of parties ( This is a loan. ) Substantial disparity between value received by Grantor and the fair market value of the land Grantor (Wells) remained in possession of the land even after deed was executed/delivered to Lambert Grantor (Wells) paid taxes or made improvements after delivery of deed to Lambert Nature of the parties and their relationship prior to/after the deed Case law factors: Was Wells in financial distress at the time of deed? Did Wells have legal counsel? Variation 1 (Easy Mortgage Case) Facts: Prior to April 1 (date of deed to Lambert), Lambert held a mortgage loan on Greenacre Wells was in default on that mortgage loan, and that unpaid balance was $160,000 Fair market value of land = $300,000 In this situation, court should recharacterize the deed as an equitable mortgage and require Lambert to foreclose 1

2 In Variation 1, the argument to re-characterize the deed as an equitable mortgage is compelling Prior to April 1, Wells was legally required to pay back the money to Lambert After April 1, while Wells may not be legally required to pay $168K to Lambert (at least in form), she is practically obligated to repay if she wants to protect her equity (why would Wells rationally sell the land for $160,000 if it was worth $300,000?) In financial distress and facing foreclosure, Wells may have agreed only as a means to protect her equity in Greenacre [Perry, p. 292, where the grantor delivered absolute deed in the context of a foreclosure rescue ] Variation 2 (Easy Sale Case) Facts: Pre-April 1, Wells/Lambert had no contractual relationship Wells/Lambert enter Lease for April 1-August 1 Fair market value of the land = $160,000 or less In this situation, court should treat this as a bona fide sale and conclude that Lambert owns Greenacre While Wells remained in possession, her possession is consistent with being a bona fide tenant Here, Wells doesn t have (and never had) any legal obligation to Lambert ( no debt, no mortgage ) Variation 3 Prior to April 1, Wells owed $160K to Bank, which held a blanket lien on her restaurant, and she was in default To get money to pay Bank and save her restaurant, she sells Greenacre to Lambert for $160,000, deeds him the land Under agreement, she has option to repurchase land for $170,000 on or before August 1 Wells can remain in possession until August 1 (and thereafter if she exercises repurchase option) Is this a bona fide sale/lease/option transaction, or should it be recharacterized as a mortgage? Lambert signs installment contract to buy a flat-screen TV (12 $350 each) from Tiger John Cleek K: Tiger John retains title to the TV until all payments are made by Lambert Lambert makes the first 11 payments, but he misses the 12th payment Can Tiger John take back the TV, terminate the contract, and keep all of Lambert s past payments as damages for breach? 2

3 UCC: Security Interest 1-201(b)(35) defines a security interest as an interest in personal property... which secures payment or performance of an obligation (b)(35) also provides that... [t]he retention or reservation of title by a seller of goods notwithstanding shipment or delivery to the buyer... is limited in effect to reservation of a security interest. UCC Installment Sale Contracts Under the UCC, Tiger John would be deemed to have only a security interest in the TV, which he could enforce only by UCC foreclosure procedures Balance of debt = $350 (12th payment) + any costs of collection incurred by Tiger John Before sale, Lambert can redeem TV from the security interest by paying off remaining balance of the debt If sale price >> balance of debt, any surplus must be returned to Lambert [ 9-610, 9-615, 9-623] Sometimes, an owner of land sells it to buyer by installment land contract or contract for deed Buyer agrees to pay price in monthly installments over time (even years!) While Buyer typically takes immediate possession of the land, Seller is typically not obligated to deliver a deed to Buyer until Buyer has paid all installments ILK typically provides that if Buyer defaults, Seller retains title to land AND may retain all of Buyer s prior payments under the ILK as liquidated damages for Buyer s breach! Russell v. Richards Richards sold land to Buyer via ILK Buyer later resold to Russell (who paid Buyer $11,188 in cash, took over the monthly payments, and assumed the balance due on ILK = $37,938) Russell made payments for next 6 years, reducing ILK balance to $26,504 ($10,782 principal reduction) Russell then defaulted (FMV of land = $82,735) Richards declared forfeiture of ILK, kept all past payments by Russell as liquidated damages 3

4 Court: contract enforced as written; Russell forfeited her interest; this does not shock the conscience Result: Russell loses her equity in the land, i.e., The $10,782 in principal payments that she made over the 6 years of her ownership The $11,188 down payment she made 6 years ago when she bought from Buyer The $34,754 in market appreciation to the land that occurred over the life of the contract Why isn t this magnitude of loss sufficiently shocking to the conscience? $11,188 down payment? Court says it was not appropriate to consider that payment, b/c it was made to original Buyer, not Richards [p. 312] But downpayment reflected, in part, prior payments that original Buyer had made to Richards! $33,746 in market appreciation? Court: this only belonged to Russell if she performed (her equity was contingent), but she didn t perform, so it wasn t hers to lose [p. 312] Held: trial court appropriately considered Russell s loss of $10,782 that she paid on K, but that loss isn t a shocking amount Vendor (Seller) Contract Vendee (Buyer)! Vendee agrees to pay contract price in installments! Vendor does not deliver deed (title) until Vendee pays final installment The Purchase Money Mortgage Compared Purchase Money Mortgagee (Seller) Deed (Title) Note and Mortgage Purchase Money Mortgagor (Buyer) Contrast: If Deal Had Been Structured as a Purchase Money Mortgage After default, Richards (as PM mortgagee) would have had to foreclose the mortgage If land sold for $82,735 at foreclosure: Richards would ve gotten $26,500 (balance of debt), plus any accrued but unpaid interest and costs of collection (e.g., attorneys fees) Balance ($56,000+) would have gone to Russell (her equity, not contingent upon her full performance) 4

5 Watkins v. Eads [p. 329] Any attempt to use title to land as security for a debt should have the same legal effect; thus, ILK should have to be enforced as a mortgage Cf. Restatement of Mortgages: A contract for deed creates a mortgage. [ 3.4(b)] Note: many installment land contracts don t contain a power of sale, so in states following the Watkins approach, Seller would have to bring judicial foreclosure action Petersen v. Hartell [p. 315] Seller, Buyer entered ILK for small plot of raw land Price = $9,162, payable in $50 installments [possible terms of this contract: 40 6%] Buyer made a total of 58 monthly payments ($2,900 total) but missed 7 payments When Seller declared default, Buyer tendered a check for $250 for back payments, but Seller refused to accept it and purported to terminate ILK Buyer then tendered the full unpaid balance of ILK into court, and sued for specific performance 5

The Clogging Rule. Contemporaneous Option as Clog

The Clogging Rule. Contemporaneous Option as Clog Uphoff borrows $200K from Lambert to pay his gambling debts Lambert takes a mortgage on Uphoff s home (worth $300K) Lambert also has Uphoff deliver a deed conveying the home to Lambert Side agreement by

More information

Russell v. Richards. UCC Installment Sale Contracts 4/10/2013

Russell v. Richards. UCC Installment Sale Contracts 4/10/2013 UCC Installment Sale Contracts Seller s retention of title under contract for sale of goods, where Buyer has taken possession, is limited to a security interest If Buyer defaults, Seller cannot simply

More information

Distribution of Sale Proceeds. Distribution of Sale Proceeds [p. 788] Distribution: Nonjudicial Sale. Distribution: Nonjudicial Sale

Distribution of Sale Proceeds. Distribution of Sale Proceeds [p. 788] Distribution: Nonjudicial Sale. Distribution: Nonjudicial Sale Distribution of Sale Proceeds [p. 788] Liens extinguished by sale are transferred to proceeds Order of distribution ( waterfall ): First, to costs of sale Then, to unpaid balance due to foreclosing mortgagee

More information

Chapter 13 Bankruptcy. Next Assignments. In re Edry

Chapter 13 Bankruptcy. Next Assignments. In re Edry Next Assignments Pages 700 743 (Distribution of Proceeds; Lien Revival; Statutory Redemption; Deficiency Judgments) Pages 574 585 (Merger; Deeds in Lieu of Foreclosure; Short Sales ) Chapter 13 Bankruptcy

More information

Title Example. Cure of Title Defect and Tender. When Tender Is Excused: Review. Closing and Tender

Title Example. Cure of Title Defect and Tender. When Tender Is Excused: Review. Closing and Tender Buyer s duty to pay purchase price and Seller s duty to deliver deed are concurrent conditions One party ordinarily can t sue to enforce a contract to purchase/sell land unless that party tenders performance

More information

Strict Foreclosure in Equity. Strict Foreclosure 3/5/2013

Strict Foreclosure in Equity. Strict Foreclosure 3/5/2013 Strict Foreclosure Foreclosure developed out of dual Law/Equity systems At law, mortgagee held fee simple title (subject to condition subsequent); once mortgagor defaulted, mortgagor forfeited its title

More information

GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2009

GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2009 S GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 00 SENATE BILL 0 Judiciary I Committee Substitute Adopted //0 Third Edition Engrossed //0 PROPOSED HOUSE COMMITTEE SUBSTITUTE S0-CSST- [v.] //00 :: PM D Short

More information

Rents and Leases: Mortgagee Concerns

Rents and Leases: Mortgagee Concerns Rents and Leases: Mortgagee Concerns Mortgagee underwrites the commercial mortgage loan based on leases and rents from those leases Issues What rights does the mortgagee have to collect rents as against

More information

This Agreement is made and entered into by and between:

This Agreement is made and entered into by and between: Land Contract This Agreement is made and entered into by and between: (seller) whose address is: hereinafter called the Vendor and (buyer) whose address is: hereinafter called the Vendee. Witnesseth: The

More information

Notice to Junior Lienholders

Notice to Junior Lienholders Missouri Power of Sale Process RSMo. 443.310: trustee must provide notice of sale at least 20 days prior to sale (unless mortgage requires longer period) RSMo. 443.325: personal notice must be given to:

More information

EVICTIONS including Lockouts and Utility Shutoffs

EVICTIONS including Lockouts and Utility Shutoffs EVICTIONS including Lockouts and Utility Shutoffs Every tenant has the legal right to remain in their rental housing unless and until the landlord follows the legal process for eviction. Generally speaking,

More information

Read and Examined by Proofreaders: Proofreader. Sealed with the Great Seal and presented to the Governor, for his approval this day of at o'clock, M.

Read and Examined by Proofreaders: Proofreader. Sealed with the Great Seal and presented to the Governor, for his approval this day of at o'clock, M. N1 UNOFFICIAL COPY OF SENATE BILL 761 EMERGENCY BILL (5lr1509) ENROLLED BILL -- Judicial Proceedings/Environmental Matters and Economic Matters -- Introduced by Senator Frosh Read and Examined by Proofreaders:

More information

STATE OF MICHIGAN COURT OF APPEALS

STATE OF MICHIGAN COURT OF APPEALS STATE OF MICHIGAN COURT OF APPEALS BANK ONE NATIONAL ASSOCIATION, Plaintiff-Appellee, UNPUBLISHED June 4, 2009 v No. 283824 Macomb Circuit Court FRANK A. VENTIMIGLIO, BRANDA M. LC No. 2006-003118-CH VENTIMIGLIO,

More information

payment, interest or annuity secured or any part thereof or performance or observance of any covenant expressed in any Mortgage or Charge 1

payment, interest or annuity secured or any part thereof or performance or observance of any covenant expressed in any Mortgage or Charge 1 A Mortgagees Remedies Following Default of a Mortgagor G&G A Mortgagee, also known as the lender, has several statutory remedies. These remedies are embodied in the Registration of Titles Act (RTA) of

More information

Assignment of Leases and Rents

Assignment of Leases and Rents Mortgagee s Rights in Leases and Rents (Continued) Priority in Rents: The Lender/Assignee, the Assignor, and Third Parties How does/should the law resolve priority disputes: Between assignor/assignee?

More information

THESE FORMS ARE NOT A SUBSTITUTE FOR LEGAL ADVICE.

THESE FORMS ARE NOT A SUBSTITUTE FOR LEGAL ADVICE. DISCLAIMER The forms provided on our site were drafted by lawyers with knowledge of equine and contractual matters. However, the forms are not State specific. THESE FORMS ARE NOT A SUBSTITUTE FOR LEGAL

More information

REAL ESTATE CONTRACT (SHORT FORM)

REAL ESTATE CONTRACT (SHORT FORM) REAL ESTATE CONTRACT (SHORT FORM) IT IS AGREED between WATERHOUSE FAMILY ("Sellers"); and ("Buyers"). Sellers agree to sell and Buyers agree to buy real estate in Jefferson County, Iowa, described as:

More information

Lesson 5: Encumbrances. Encumbrances. Real Estate Principles of Georgia. Encumbrances. Financial vs. Non-financial

Lesson 5: Encumbrances. Encumbrances. Real Estate Principles of Georgia. Encumbrances. Financial vs. Non-financial Real Estate Principles of Georgia Lesson 5: Encumbrances 1 of 64 105 Encumbrances Encumbrance: A nonpossessory interest in real property held by someone other than the owner. Does not give ownership or

More information

11/5/2015. Kevin Heaney, Crowley Fleck, PLLP. Montana Land Title Association Fall Education Seminar

11/5/2015. Kevin Heaney, Crowley Fleck, PLLP. Montana Land Title Association Fall Education Seminar Montana Land Title Association 2015 Fall Education Seminar The Difference Between Mortgages and Trust Indentures in the Foreclosure Process November 5, 2015 Kevin Heaney, Crowley Fleck, PLLP Familiarize

More information

Released for Publication November 2, COUNSEL

Released for Publication November 2, COUNSEL 1 FINCH V. BENEFICIAL N.M., 1995-NMSC-068, 120 N.M. 658, 905 P.2d 198 (S. Ct. 1995) IN RE: CLETE NORMAN FINCH and MARY LOUISE FINCH, Debtors. CLETE NORMAN FINCH and MARY LOUISE FINCH, Plaintiffs and Counterdefendants,

More information

COUNTY OF WAYNE REAL PROPERTY AUCTION SALE Lyons High School Auditorium, 10 Clyde Rd., Lyons, NY June 13, 2018 at 6:00 p.m.

COUNTY OF WAYNE REAL PROPERTY AUCTION SALE Lyons High School Auditorium, 10 Clyde Rd., Lyons, NY June 13, 2018 at 6:00 p.m. COUNTY OF WAYNE REAL PROPERTY AUCTION SALE Lyons High School Auditorium, 10 Clyde Rd., Lyons, NY June 13, 2018 at 6:00 p.m. TERMS AND CONDITIONS OF SALE 1. The property offered for sale has been acquired

More information

Rights Of Unpaid Seller. Mercantile Law

Rights Of Unpaid Seller. Mercantile Law Rights Of Unpaid Mercantile Law Definition: Unpaid The term unpaid seller may be defined as the seller to whom the full price of the goods sold has not been paid. The legal definition of unpaid seller

More information

Vendor and Purchaser - Real Estate Contracts - The Future of the Real Estate Contract in New Mexico: Huckins v. Ritter

Vendor and Purchaser - Real Estate Contracts - The Future of the Real Estate Contract in New Mexico: Huckins v. Ritter 14 N.M. L. Rev. 531 (Summer 1984 1984) Summer 1984 Vendor and Purchaser - Real Estate Contracts - The Future of the Real Estate Contract in New Mexico: Huckins v. Ritter Kathryn Stryker Recommended Citation

More information

Mortgagee s Rights in Leases and Rents (Continued) Rents and Leases: Mortgagee Concerns 2/4/2013

Mortgagee s Rights in Leases and Rents (Continued) Rents and Leases: Mortgagee Concerns 2/4/2013 Mortgagee s Rights in Leases and Rents (Continued) Rents and Leases: Mortgagee Concerns 1) What rights does the mortgagee have versus the tenants, during and after foreclosure sale? 2) What rights does

More information

Can an Equitable Interest Held in Trust Be Transferred Wrongfully by the Trustee Free of the Trust?

Can an Equitable Interest Held in Trust Be Transferred Wrongfully by the Trustee Free of the Trust? University of Richmond Law Review Volume 1 Issue 2 Article 3 1959 Can an Equitable Interest Held in Trust Be Transferred Wrongfully by the Trustee Free of the Trust? Ellsworth Wiltshire Follow this and

More information

Legal Business. Overview Of Mortgagee s Remedies Of Foreclosure And Power Of Sale

Legal Business. Overview Of Mortgagee s Remedies Of Foreclosure And Power Of Sale Memoranda on legal and business issues and concerns for multiple industry and business communities Overview Of Mortgagee s Remedies Of Foreclosure And Power Of Sale 1 Rajah & Tann 4 Battery Road #26-01

More information

CONTRACT FOR SALE OF REAL ESTATE

CONTRACT FOR SALE OF REAL ESTATE CONTRACT FOR SALE OF REAL ESTATE This is a CONTRACT between (hereinafter Seller or Sellers) and (hereinafter Buyer or Buyers), dated this day of,. THIS INSTRUMENT WILL NOT ALLOW USE OF THE PROPERTY DESCRIBED

More information

Insuring after Judicial and Non-Judicial Foreclosures

Insuring after Judicial and Non-Judicial Foreclosures Insuring after Judicial and Non-Judicial Foreclosures Montana Land Title Association Spring Education Seminar May 2014 David E. Lawson, Underwriter Fidelity National Title Group NOTE: deed of trust (DOT)

More information

GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 HOUSE BILL 174 RATIFIED BILL

GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 HOUSE BILL 174 RATIFIED BILL GENERAL ASSEMBLY OF NORTH CAROLINA SESSION 2015 HOUSE BILL 174 RATIFIED BILL AN ACT TO AMEND AND ENHANCE CERTAIN NOTICE REQUIREMENTS AND PROTECTIONS FOR TENANTS OF REAL PROPERTIES IN FORECLOSURE AND TO

More information

MODULE 5-A: LISTING AND SALES CONTRACTS

MODULE 5-A: LISTING AND SALES CONTRACTS MODULE 5-A: LISTING AND SALES CONTRACTS LEARNING OBJECTIVES The contractual relationships between brokers and clients are established through the use of a series of contracts. The listing contract is the

More information

CITY'S BONDS TO FINANCE HOUSING PROGRAMS ARE NOT PRIVATE ACTIVITY BONDS.

CITY'S BONDS TO FINANCE HOUSING PROGRAMS ARE NOT PRIVATE ACTIVITY BONDS. Private Letter Ruling 9203021, IRC Section 141 CITY'S BONDS TO FINANCE HOUSING PROGRAMS ARE NOT PRIVATE ACTIVITY BONDS. Date: October 21, 1991 Dear ***: This letter is our reply to your request for rulings

More information

PREVIEW. Avoidance of foreclosure notice Statutory Contract of Sale terms and forms

PREVIEW. Avoidance of foreclosure notice Statutory Contract of Sale terms and forms Information & Instructions: Contract for deed or sale Avoidance of foreclosure notice Statutory Contract of Sale terms and forms 1. If the property is to be used as the buyer s residence, the seller must

More information

INSTALLMENT LAND CONTRACT LAW 8, 1965, P.L.

INSTALLMENT LAND CONTRACT LAW 8, 1965, P.L. INSTALLMENT LAND CONTRACT LAW Act of Jun. 8, 1965, P.L. 115, No. 81 AN ACT Cl. 68 Defining and relating to installment land contracts in cities of the first class and counties of the second class and providing

More information

COUNTY LAND REUTILIZATION CORPORATION. Summary of Ohio Statutory Foreclosure Proceedings

COUNTY LAND REUTILIZATION CORPORATION. Summary of Ohio Statutory Foreclosure Proceedings Form XI-4 COUNTY LAND REUTILIZATION CORPORATION Summary of Ohio Statutory Foreclosure Proceedings TABLE OF CONTENTS 323.25 FORECLOSURE Commencing a 323.25 Co. Treasurer Foreclosure Action Right of Redemption

More information

NEW LEGISLATION 2017 Oregon Land Title Association Summary of Bills of Particular Interest to Title Companies

NEW LEGISLATION 2017 Oregon Land Title Association Summary of Bills of Particular Interest to Title Companies NEW LEGISLATION 2017 Oregon Land Title Association Summary of Bills of Particular Interest to Title Companies (A) HB 2855-A (Chapter 164, Oregon Laws 2017) Relates to fulfillment deeds for land sale contracts.

More information

STATE OF NEW JERSEY. SENATE, No th LEGISLATURE. Sponsored by: Senator NIA H. GILL District 34 (Essex and Passaic)

STATE OF NEW JERSEY. SENATE, No th LEGISLATURE. Sponsored by: Senator NIA H. GILL District 34 (Essex and Passaic) SENATE, No. STATE OF NEW JERSEY th LEGISLATURE INTRODUCED FEBRUARY, 0 Sponsored by: Senator NIA H. GILL District (Essex and Passaic) SYNOPSIS The Real Estate Installment Contract Act. CURRENT VERSION OF

More information

Deeds: Topics to be Covered. Deeds MAY (but Need Not) Include: Valid Deed MUST Include:

Deeds: Topics to be Covered. Deeds MAY (but Need Not) Include: Valid Deed MUST Include: Deeds: Topics to be Covered What a deed is (and is not) Types of deeds Contents of deeds Mandatory contents Optional contents Special/idiosyncratic requirements Impact of errors in the preparation/execution

More information

Complex Closing Stories Part II. Leasehold Interests& Improvements, Options & Rights of Refusal

Complex Closing Stories Part II. Leasehold Interests& Improvements, Options & Rights of Refusal Complex Closing Stories Part II Leasehold Interests& Improvements, Options & Rights of Refusal 1 Leasehold Interests Insuring ALTA 13-06 (Owners) & ALTA 13.1-06 (Loan) Endorsements Replaced former ALTA

More information

.:Foreclosure Timeline:.

.:Foreclosure Timeline:. .::. The following is a timeline for a typical judicial foreclosure by sale case in Vermont. With few exceptions, most foreclosures in Vermont follow the judicial foreclosure by sale procedure. The exceptions

More information

address address branch address Fee Simple Absolute See Schedule G attached

address address branch address Fee Simple Absolute See Schedule G attached Form 15.1 Collateral Mortgage Land Titles Act, S.N.B. 1981, c.l-1.1, s.25 Standard Forms of Conveyances Act, S.N.B. 1980, c.s-12.2, s.2 Parcel Identifier: Mortgagor: name address name address Spouse of:

More information

located in the 14. City/Township of CLEARWATER, County of WRIGHT, 15. State of Minnesota, PID # (s) 16.

located in the 14. City/Township of CLEARWATER, County of WRIGHT, 15. State of Minnesota, PID # (s) 16. 2. BUYER (S): 3. 4. Buyer's earnest money in the amount of COMMERCIAL PURCHASE AGREEMENT This form approved by the Minnesota Association of REALTORS and the Minnesota Commercial Association of REALTORS,

More information

Plan of Reconstitution. Seward Park Housing Corporation. Seward Park RECONSTITUTION_PLAN.DOC

Plan of Reconstitution. Seward Park Housing Corporation. Seward Park RECONSTITUTION_PLAN.DOC Plan of Reconstitution of Seward Park Housing Corporation Dated: April 15, 1996 Table of Contents INTRODUCTION... 1 SPECIAL RISKS... 2 DESCRIPTION OF PLAN OF RECONSTITUTION... 8 New Certificate of Incorporation,

More information

Transfers of Mortgaged Land. Due on Sale. Due on Sale/Transfer Clauses and the Garn St. Germain Act 2/24/2014

Transfers of Mortgaged Land. Due on Sale. Due on Sale/Transfer Clauses and the Garn St. Germain Act 2/24/2014 Due on Sale/Transfer Clauses and the Garn St. Germain Act Transfers of Mortgaged Land Mortgagee may be concerned by transfer without payoff of the mortgage (e.g., creditworthiness of buyer). Could mortgage

More information

Summary Ejectment. The 10 Minute Guide to. Show me the lease. No lease? Tell me about your rental agreement. 3 Doors to Possession 6/25/2012

Summary Ejectment. The 10 Minute Guide to. Show me the lease. No lease? Tell me about your rental agreement. 3 Doors to Possession 6/25/2012 The 10 Minute Guide to Summary Ejectment Show me the lease. No lease? Tell me about your rental agreement. A landlord tenant relationship is required for an action for summary ejectment. 1 Lease contains

More information

BRIEF SUMMARY OF TENANT PROTECTION LEGISLATION

BRIEF SUMMARY OF TENANT PROTECTION LEGISLATION BRIEF SUMMARY OF TENANT PROTECTION LEGISLATION The Residential Rental Agreements Act is set out in G.S. Chapter 42, Sections 38 to 44. This law, which was passed in 1977, re-wrote the common law to provide

More information

Brought to you by Ingham County Treasurer Eric Schertzing

Brought to you by Ingham County Treasurer Eric Schertzing INFORMATION FOR BUYERS AND POTENTIAL BUYERS Brought to you by Ingham County Treasurer Eric Schertzing Land contracts: The nuts and bolts... 1 Why use a land contract?... 2 Pros to a land contract... 2

More information

SALES TABLE OF CONTENTS. Chapter 1: How to Answer Sales Questions...1. Chapter 2: The Six Types of Sales Questions...2. Chapter 3: Sales Issues...

SALES TABLE OF CONTENTS. Chapter 1: How to Answer Sales Questions...1. Chapter 2: The Six Types of Sales Questions...2. Chapter 3: Sales Issues... SALES TABLE OF CONTENTS Chapter 1: How to Answer Sales Questions....1 Chapter 2: The Six Types of Sales Questions.......2 Chapter 3: Sales Issues........5 Chapter 4: Spotting Sales Issues..... 10 Chapter

More information

DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of, 20 between

DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of, 20 between When recorded return to: Lexington National Insurance Corporation P.O. Box 6098 Lutherville, Maryland 21094 DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of,

More information

From the Bankruptcy Courts: What is an Executory Contract? A Challenge to the Countryman Test

From the Bankruptcy Courts: What is an Executory Contract? A Challenge to the Countryman Test Maurice A. Deane School of Law at Hofstra University Scholarly Commons at Hofstra Law Hofstra Law Faculty Scholarship 1983 From the Bankruptcy Courts: What is an Executory Contract? A Challenge to the

More information

LAND SALE CONTRACT Josephine County, Oregon

LAND SALE CONTRACT Josephine County, Oregon LAND SALE CONTRACT Josephine County, Oregon This Agreement is made by and between JOSEPHINE COUNTY, a political subdivision of the State of Oregon, hereinafter called COUNTY, and, hereinafter called PURCHASER.

More information

THE NEW MICHIGAN COMMERCIAL REAL ESTATE RECEIVERSHIP ACT

THE NEW MICHIGAN COMMERCIAL REAL ESTATE RECEIVERSHIP ACT THE NEW MICHIGAN COMMERCIAL REAL ESTATE RECEIVERSHIP ACT Judith Greenstone Miller 2018 All Rights Reserved Jaffe Raitt Heuer & Weiss, P.C. 27777 Franklin Road, Suite 2500 Southfield, Michigan (248) 351-3000

More information

EXTRACT FOR QUESTION 2

EXTRACT FOR QUESTION 2 MARYLAND BAR EXAMINATION BOARD S WRITTEN TEST July 26, 2016 EXTRACT FOR QUESTION 2 THIS EXTRACT IS TO BE USED FOR QUESTION 2 OF THE BOARD S WRITTEN TEST. THIS EXTRACT CONTAINS SELECTED PROVISIONS OF THE

More information

property even if the parties have no lease arrangement. This is often called an option contract.

property even if the parties have no lease arrangement. This is often called an option contract. In the farming community, lease-to-own refers to certain methods to achieve land ownership. Purchasing a farm with conventional financing is simply not an option (or the best option) for many. Lease-to-own

More information

Working with Breach of Lease Condition

Working with Breach of Lease Condition Working with Breach of Lease Condition Failure to pay rent Breach of a lease condition Holding over Criminal activity 4 Good Reasons 1 Any tenant... may be removed from [rental] premises in the manner

More information

LAND CONTRACT. hereinafter referred to as the "Seller" whose address is and, hereinafter referred to as the "Purchaser" whose address is.

LAND CONTRACT. hereinafter referred to as the Seller whose address is and, hereinafter referred to as the Purchaser whose address is. LAND CONTRACT This Contract, made this day of, 20, between hereinafter referred to as the "Seller" whose address is and, hereinafter referred to as the "Purchaser" whose address is. Witnesseth: 1. THE

More information

Assembly Bill No. 140 Committee on Commerce and Labor

Assembly Bill No. 140 Committee on Commerce and Labor Assembly Bill No. 140 Committee on Commerce and Labor CHAPTER... AN ACT relating to real property; revising provisions relating to a notice of sale of real property under execution; establishing the crime

More information

DEED OF TRUST (For use in the State of Washington only)

DEED OF TRUST (For use in the State of Washington only) When recorded return to: DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of between as GRANTOR(S),, and as TRUSTEE, and as BENEFICIARY, WITNESSETH: Grantor(s)

More information

IN THE COURT OF APPEALS OF TENNESSEE AT NASHVILLE

IN THE COURT OF APPEALS OF TENNESSEE AT NASHVILLE IN THE COURT OF APPEALS OF TENNESSEE AT NASHVILLE FILED April 16, 1999 JERRY BOWMAN, Cecil Crowson, Jr. Appellate Court Clerk Plaintiff/Appellant, Appeal No. VS. 01-A-01-9808-CH-00424 MIDSTATE FINANCE

More information

DEED OF TRUST (For use in the State of Washington only)

DEED OF TRUST (For use in the State of Washington only) When recorded return to: DEED OF TRUST (For use in the State of Washington only) THIS DEED OF TRUST, made this day of between as GRANTOR(S),, and as TRUSTEE, and as BENEFICIARY, WITNESSETH: Grantor(s)

More information

AGREEMENT. ("Buyers"), and Mr. Investor., whose address is

AGREEMENT. (Buyers), and Mr. Investor., whose address is AGREEMENT Mr. and Mrs. Homeowner, whose address is ("Buyers"), and Mr. Investor, whose address is ("Investor"), enter into this Agreement (the "Contract") on, 2001, subject to the following terms and conditions:

More information

TITLE 27 LEASEHOLD MORTGAGE OF TRIBAL TRUST LAND TABLE OF CONTENTS. CHAPTER General Purpose Statement Purpose 1

TITLE 27 LEASEHOLD MORTGAGE OF TRIBAL TRUST LAND TABLE OF CONTENTS. CHAPTER General Purpose Statement Purpose 1 TITLE 27 LEASEHOLD MORTGAGE OF TRIBAL TRUST LAND TABLE OF CONTENTS CHAPTER 27.01 General Purpose Statement 27.0101 Purpose 1 CHAPTER 27.02 Definitions 27.0201 Definitions 1 CHAPTER 27.03 Priority 27.0301

More information

Peter Levaggi, Joint Head of Property Litigation Group, Charles Russell LLP

Peter Levaggi, Joint Head of Property Litigation Group, Charles Russell LLP Peter Levaggi, Joint Head of Property Litigation Group, Charles Russell LLP Roger Elford, Joint Head of Group, Charles Russell LLP II JORDANS CONTENTS Foreword Preface Table of Cases Table of Statutes

More information

CHAPTER Council Substitute for House Bill No. 643

CHAPTER Council Substitute for House Bill No. 643 CHAPTER 2008-79 Council Substitute for House Bill No. 643 An act relating to foreclosure fraud; creating s. 501.1377, F.S.; providing legislative findings and intent with respect to the need to protect

More information

The Bank of Nova Scotia Collateral Mortgage NOTES TO SOLICITORS

The Bank of Nova Scotia Collateral Mortgage NOTES TO SOLICITORS The Bank of Nova Scotia Collateral Mortgage (Land Titles Act and Registry Act) Standard Charge Terms No. 200012 NOTES TO SOLICITORS Notes for Solicitors not using e-reg 1 Discard Electronic Document Agreement

More information

March 21, ATTORNEY GENERAL OPINION NO Delma Walcher Register of Deeds Sumner County Courthouse Wellington, Kansas 67152

March 21, ATTORNEY GENERAL OPINION NO Delma Walcher Register of Deeds Sumner County Courthouse Wellington, Kansas 67152 March 21, 1977 ATTORNEY GENERAL OPINION NO. 77-1 24 Delma Walcher Register of Deeds Sumner County Courthouse Wellington, Kansas 67152 RE: Taxation - Mortgage Registration Fees - Assignment of Purchase

More information

TRADING TERMS AND CONDITIONS TRADING TERMS AND CONDITIONS

TRADING TERMS AND CONDITIONS TRADING TERMS AND CONDITIONS 1. Definitions 1.1 Company means De Bortoli Wines Pty Limited (A.B.N. 77 000 146 672); 1.2 PPSA means the Personal Property Securities Act 2009 (Cth) as amended from time to time and any regulations made

More information

see schedule 3. ENCUMBRANCES, LIENS AND INTERESTS The within document is subject to instrument number(s)

see schedule 3. ENCUMBRANCES, LIENS AND INTERESTS The within document is subject to instrument number(s) MORTGAGE Form 6.1 Mortgage Encumbrance Mortgage of Mortgage/Encumbrance 1. MORTGAGOR(S)/GRANTOR(S) OF ENCUMBRANCE (Encumbrancee(s)) 2. LAND DESCRIPTION TITLE NO.(S) MORTGAGE/ENCUMBRANCE NO.(S) 3. ENCUMBRANCES,

More information

* * * * * * * * * * * * * APPEAL FROM ST. BERNARD 34TH JUDICIAL DISTRICT COURT NO , DIVISION C Honorable Wayne Cresap, Judge * * * * * *

* * * * * * * * * * * * * APPEAL FROM ST. BERNARD 34TH JUDICIAL DISTRICT COURT NO , DIVISION C Honorable Wayne Cresap, Judge * * * * * * ROBERT C. BERTHELOT AND MARINA MOTEL, INC. VERSUS THE LE INVESTMENT, L.L.C. AND MICHAEL M. LE NO. 2002-CA-2054 COURT OF APPEAL FOURTH CIRCUIT STATE OF LOUISIANA APPEAL FROM ST. BERNARD 34TH JUDICIAL DISTRICT

More information

BANK FINANCE AND REGULATION Multi-Jurisdictional Survey SECURITY OVER COLLATERAL. USA - MINNESOTA Briggs and Morgan, P.A.

BANK FINANCE AND REGULATION Multi-Jurisdictional Survey SECURITY OVER COLLATERAL. USA - MINNESOTA Briggs and Morgan, P.A. BANK FINANCE AND REGULATION Multi-Jurisdictional Survey SECURITY OVER COLLATERAL USA - MINNESOTA Briggs and Morgan, P.A. CONTACT INFORMATION Steven J. Ryan Briggs and Morgan, P.A. 2200 IDS Center 80 S.

More information

Equestleader.com, Inc., recovered a judgment for civil trespass damages

Equestleader.com, Inc., recovered a judgment for civil trespass damages NOT FINAL UNTIL TIME EXPIRES TO FILE REHEARING MOTION AND, IF FILED, DETERMINED IN THE DISTRICT COURT OF APPEAL OF FLORIDA SECOND DISTRICT RANDALL GUNNING, individually, CASTLE CONSULTING I LTD., INC.,

More information

10 April But rarely is this the position in practice.

10 April But rarely is this the position in practice. Bank Guarantees 10 April 2014 Most construction contracts for large scale infrastructure and commercial projects require contractors to provide a principal with an unconditional bank guarantee to secure

More information

LAW OF THE KYRGYZ REPUBLIC. On Mortgage. (amended as of June 28, 2001, # 61)

LAW OF THE KYRGYZ REPUBLIC. On Mortgage. (amended as of June 28, 2001, # 61) Bishkek May 29, 1999, # 41 LAW OF THE KYRGYZ REPUBLIC On Mortgage (amended as of June 28, 2001, # 61) CHAPTER I. GENERAL PROVISIONS CHAPTER II. EMERGENCE OF MORTGAGE CHAPTER III. TRANSFER OF RIGHTS TO

More information

MORTGAGE PART 1 (This area for Land Title Office use) Page 1 of pages

MORTGAGE PART 1 (This area for Land Title Office use) Page 1 of pages LAND TITLE ACT FORM B (Section 219.1) Province of British Columbia MORTGAGE PART 1 (This area for Land Title Office use) Page 1 of pages 1. APPLICATION: (Name, address, phone number and signature of applicant,

More information

Chapter 52 Transfer and Control of Real Property

Chapter 52 Transfer and Control of Real Property Chapter 52 Transfer and Control of Real Property A. Contract of Sale Marketable Title Title free from 1. encumbrances (such as mortgages, easements, liens, leases, and restrictive covenants) 2. defects

More information

THE LAND TITLES ACT, 2000

THE LAND TITLES ACT, 2000 THE LAND TITLES ACT, 2000 ROYAL BANK OF CANADA SASKATCHEWAN COLLATERAL MORTGAGE (FIXED RATE) TABLE OF CONTENTS SECTION 1 AMOUNTS SECURED BY THE MORTGAGE AND INTEREST RATE... 2 SECTION 2 TERMS YOU NEED

More information

PREPARED BY: David Hertz Midwest Rentals, LLC East Highway 50 Vermillion, SD 57069

PREPARED BY: David Hertz Midwest Rentals, LLC East Highway 50 Vermillion, SD 57069 PREPARED BY: David Hertz Midwest Rentals, LLC. 1405 East Highway 50 Vermillion, SD 57069 CONTRACT FOR DEED AND PURCHASE AGREEMENT FOR PERSONAL PROPERTY This Contract For Deed and Purchase Agreement for

More information

Sec DEFINITIONS. In this chapter:

Sec DEFINITIONS. In this chapter: Foreclosure in Texas Texas is a non-judicial foreclosure state. A foreclosure proceeding in Texas is like a Motion for Summary Judgement. And as Sergeant Major Basil Plumley stated: Gentlemen, prepare

More information

FRACTIONAL INTEREST AGREEMENT

FRACTIONAL INTEREST AGREEMENT 1 FRACTIONAL INTEREST AGREEMENT February, 20 PARTIES: Seller: Buyer: 1. DESCRIPTION Seller is the owner and holder of the secured obligation described as follows: Security Instrument: Dated: Lien Position:

More information

CONTRACT FOR CONDITIONAL SALE OF REAL ESTATE

CONTRACT FOR CONDITIONAL SALE OF REAL ESTATE THIS FORM HAS BEEN PREPARED FOR USE IN THE STATE OF INDIANA BY LAWYERS ONLY. USING THIS FORM, FILLING IN BLANK SPACES, STRIKING OUT PROVISIONS AND INSERTING SPECIAL CLAUSES MAY CONSTITUTE THE PRACTICE

More information

Bankruptcy and the Family Home

Bankruptcy and the Family Home Bankruptcy and the Family Home How the Bankruptcy Act applies to a bankrupt's family home is often misunderstood. The loss of the bankrupt's family home is usually felt more intensely than the loss of

More information

PUBLIC AUCTION IN REM TAX FORECLOSURE ANTONIO S BANQUET AND CONFERENCE CENTER 7708 NIAGARA FALLS BLVD., NIAGARA FALLS, NY

PUBLIC AUCTION IN REM TAX FORECLOSURE ANTONIO S BANQUET AND CONFERENCE CENTER 7708 NIAGARA FALLS BLVD., NIAGARA FALLS, NY PUBLIC AUCTION IN REM TAX FORECLOSURE DATE OF AUCTION: PLACE OF AUCTION: SCHEDULE A - SCHEDULE B - DECEMBER 12, 2011-9:00 A.M. ANTONIO S BANQUET AND CONFERENCE CENTER 7708 NIAGARA FALLS BLVD., NIAGARA

More information

Policy Statement. Purpose. Scope. Legislative Authority. Definitions. Policy Title: Collection of Outstanding Property Taxes Policy Number:

Policy Statement. Purpose. Scope. Legislative Authority. Definitions. Policy Title: Collection of Outstanding Property Taxes Policy Number: Policy Number: 04-02-03 Section: Finance and Accounting Subsection: Effective Date: September 15, 2010 Last Review Date: Approved by: Council Owner Division/Contact: Manager, Revenue and Taxation Revenue

More information

STATE OF MICHIGAN COURT OF APPEALS

STATE OF MICHIGAN COURT OF APPEALS STATE OF MICHIGAN COURT OF APPEALS GREGG MAYES, Personal Representative of the Estate of WALTER MAYES, UNPUBLISHED November 29, 2011 Plaintiff-Appellant, V No. 298355 Ingham Circuit Court LEONARD CHARLES

More information

UNIT - 4: UNPAID SELLER

UNIT - 4: UNPAID SELLER 2.44 BUSINESS LAWS UNIT - 4: UNPAID SELLER LEARNING OUTCOMES In this unit, the students would be able to: Understand the concept of Unpaid Seller Know the rights of Unpaid Seller Analyze the effect of

More information

PART 1: BROKERS. Sources of Relevant Law. Selected Statutes and Regulatory Materials Concerning Brokers

PART 1: BROKERS. Sources of Relevant Law. Selected Statutes and Regulatory Materials Concerning Brokers PART 1: BROKERS Intro The broker puts a seller and buyer together and serves as an intermediary during negotiations. o They have the authority to show, advertise and market the property The sales agent

More information

3. PAYDAY RENT PAYMENT OPTION.

3. PAYDAY RENT PAYMENT OPTION. FIXED TERM LEASE This agreement is entered into on between _GERBER HOLDINGS, LLC hereinafter referred to as ''landlord'' and, referred to as tenant. ' 1. PREMISES. Landlord rents to tenant those premises

More information

PUBLIC AUCTION IN REM TAX FORECLOSURE DATE OF AUCTION: DECEMBER 19, 2017 REGISTRATION 8:00 A.M. AUCTION 9:00 A.M.

PUBLIC AUCTION IN REM TAX FORECLOSURE DATE OF AUCTION: DECEMBER 19, 2017 REGISTRATION 8:00 A.M. AUCTION 9:00 A.M. PUBLIC AUCTION IN REM TAX FORECLOSURE DATE OF AUCTION: DECEMBER 19, 2017 REGISTRATION 8:00 A.M. AUCTION 9:00 A.M. PLACE OF AUCTION: SCHEDULE A - SCHEDULES B - SCHEDULE D - SCHEDULE E - BANQUET FACILITY

More information

FILED: NEW YORK COUNTY CLERK 03/09/ :41 PM INDEX NO /2009 NYSCEF DOC. NO. 323 RECEIVED NYSCEF: 03/09/2015

FILED: NEW YORK COUNTY CLERK 03/09/ :41 PM INDEX NO /2009 NYSCEF DOC. NO. 323 RECEIVED NYSCEF: 03/09/2015 FILED: NEW YORK COUNTY CLERK 03/09/2015 06:41 PM INDEX NO. 107802/2009 NYSCEF DOC. NO. 323 RECEIVED NYSCEF: 03/09/2015 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK CENTECH LLC, -against- Plaintiff,

More information

DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS REGARDING THE PRAIRIE TRAIL SCHOLARSHIP FUND

DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS REGARDING THE PRAIRIE TRAIL SCHOLARSHIP FUND Prepared by and return to: Robert D. Andeweg, 4500 Westown Parkway, Suite 277, West Des Moines, IA 50266 Telephone: (515) 242-2400 DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS REGARDING THE PRAIRIE

More information

IN THE DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FIFTH DISTRICT JANUARY TERM v. Case No. 5D06-871

IN THE DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FIFTH DISTRICT JANUARY TERM v. Case No. 5D06-871 IN THE DISTRICT COURT OF APPEAL OF THE STATE OF FLORIDA FIFTH DISTRICT JANUARY TERM 2007 JEANNE MORRIS AND CHUCK PATE, Appellant, v. Case No. 5D06-871 ARTHUR J. OSTEEN, ETC. ET AL., Appellee. / Opinion

More information

RANM CARAVAN LEGAL UPDATE SANTA FE, NM - JUNE 5, 2011

RANM CARAVAN LEGAL UPDATE SANTA FE, NM - JUNE 5, 2011 RANM CARAVAN LEGAL UPDATE SANTA FE, NM - JUNE 5, 2011 I. CASE LAW UPDATES: FREEMAN V. QUICKEN LOANS, INC. U.S. SUPREME COURT FACTS: Three married couples (collectively, Consumers ) received mortgage loans

More information

Impact of Bankruptcy of an Operator under a Joint Operating Agreement on Non-Operators

Impact of Bankruptcy of an Operator under a Joint Operating Agreement on Non-Operators together Impact of Bankruptcy of an Operator under a Joint Operating Agreement on Non-Operators Finance and Restructuring Practice Group James L. Garrity, Jr. Andrew D. Gottfried Patrick D. Fleming Please

More information

March 20, TO: All MAAO Members FROM: MAAO President Stephen C. Behrenbrinker, CAE, RE: MAAO-DOR Foreclosure Advisory Document

March 20, TO: All MAAO Members FROM: MAAO President Stephen C. Behrenbrinker, CAE, RE: MAAO-DOR Foreclosure Advisory Document March 20, 2008 TO: All MAAO Members FROM: MAAO President Stephen C. Behrenbrinker, CAE, RE: MAAO-DOR Foreclosure Advisory Document Greetings! On behalf of the Minnesota Association of Assessing Officers

More information

LONG TERM ESCROW INSTRUCTIONS

LONG TERM ESCROW INSTRUCTIONS LONG TERM ESCROW INSTRUCTIONS YOUR FILE #: LONG TERM ESCROW #: SELLER/PAYEE: Address: Phone: Email: BUYER/PAYOR: Address: Phone: Email: See attached for additional Sellers/Payees See attached for additional

More information

The nonjudicial foreclosure process

The nonjudicial foreclosure process Chapter 44: The nonjudicial foreclosure process 499 Chapter 44 The nonjudicial foreclosure process After you read this chapter, you will be able to : identify a mortgage or other lien on real estate by

More information

ICAN BUSINESS LAW WEEK 6 SOLUTION TOPIC: SALE OF GOODS & HIRE PURCHASE SECTION A 1. C 2. A 3. B 4. E 5. B 6. D 7. B 8. B 9. B 10.

ICAN BUSINESS LAW WEEK 6 SOLUTION TOPIC: SALE OF GOODS & HIRE PURCHASE SECTION A 1. C 2. A 3. B 4. E 5. B 6. D 7. B 8. B 9. B 10. ICAN BUSINESS LAW WEEK 6 SOLUTION TOPIC: SALE OF GOODS & HIRE PURCHASE SECTION A 1. C 2. A 3. B 4. E 5. B 6. D 7. B 8. B 9. B 10. A SECTION B SOLUTION TO QUESTION 1 STARRY GOLD ACADEMY +2348023428420,

More information

SIGNIFICANT ISSUES RELATING TO STOCK-BASED COMPENSATION FOR EXECUTIVES

SIGNIFICANT ISSUES RELATING TO STOCK-BASED COMPENSATION FOR EXECUTIVES SIGNIFICANT ISSUES RELATING TO STOCK-BASED COMPENSATION FOR EXECUTIVES Materials Submitted By: Scott P. Spector Fenwick & West LLP Palo Alto, California T his outline addresses topics relating to stock-based

More information

WORKFORCE HOUSING PARTICIPATION AGREEMENT RECITALS:

WORKFORCE HOUSING PARTICIPATION AGREEMENT RECITALS: WORKFORCE HOUSING PARTICIPATION AGREEMENT This Workforce Housing Participation Agreement ( Agreement ) is entered into as of the day of,, by and between the City of Virginia Beach, A municipal corporation

More information

MAINE FORECLOSURE LAW * June 19, Presented by: Stephanie A. Williams, Esq.

MAINE FORECLOSURE LAW * June 19, Presented by: Stephanie A. Williams, Esq. MAINE FORECLOSURE LAW * June 19, 2010 Presented by: Stephanie A. Williams, Esq. PERKINS THOMPSON One Canal Plaza, PO Box 426 Portland, ME 04112-0426 207-774-2635 swilliams@perkinsthompson.com Two types

More information

Staying Alive! How New Lease and Other Leasehold Mortgagee Protection Provisions Really Work When the Ground Lessee Defaults

Staying Alive! How New Lease and Other Leasehold Mortgagee Protection Provisions Really Work When the Ground Lessee Defaults Staying Alive! How New Lease and Other Leasehold Mortgagee Protection Provisions Really Work When the Ground Lessee Defaults By: Janet M. Johnson 1 When entering into a long-term ground lease with a ground

More information