Should an eminent domain property taking be allowed to cause a mortgage default and possible bankruptcy?

Date

2012

Authors

Journal Title

Journal ISSN

Volume Title

Publisher

Routledge

Abstract

This case exposes students to the ethical and legal issues property owners face during eminent domain proceedings in an environment of downward spiraling housing prices. Current federal and state eminent domain laws have no provisions for situations where property owners are significantly underwater on their mortgages. The potential outcome is an otherwise financially viable loan holder being saddled with a large deficiency judgment, possibly needing to file for bankruptcy protection.

Description

Keywords

Eminent domain, Mortgage loans, Bankruptcy

Citation

DuVal, C. W., & Seiler, M. J. (2012). Should an eminent domain property taking be allowed to cause a mortgage default and possible bankruptcy? Journal of Real Estate Practice and Education, 15(2), 153-168. https://doi.org/10.1080/10835547.2012.12091706

URI

https://search.ebscohost.com/login.aspx?direct=true&AuthType=shib&db=edsjsr&AN=edsjsr.24863206&site=eds-live&scope=site&custid=s5615486
 http://hdl.handle.net/11416/688

DOI

Collections

School of Business and Free Enterprise