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United States (204,628)
Finance (20)
FIN 3353 (3)
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Chapter 4

Chapter 4 Notes

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Louisiana State University
FIN 3353

History of Real Estate FinanceOur current law in the US has roots in Roman German and English lawRoman Law Fiducia transfer of title and possession until repaymentPigus No transfer of title or possession but there was a pledge lender could take titlepossession under suspicion of defaultHypotheca same as pigus but lender could only take title under actual defaultGerman and French influenceIn German Law a gage is a deposit made to fulfill an agreementMort is French word for dead Real property not transportable was a dead gageHence mortgageIn default the lender could take title but could not look further for reliefEnglish influenceChurch influence on business practicesUsury concept that charging interest was sinful under natural lawLenders could take collateral but were not required to return anything to the borrowerEquitable Right of Redemption Allowing the borrower to redeem the property after default and up to foreclosureStatutory Right of Redemption some states will give add
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