MORTGAGES - DEED IN LIEU OF FORECLOSURE - VALIDITY

Authors

Elbridge D. Phelps, University of Michigan Law SchoolFollow

Abstract

Depression years have brought to the fore a question much controverted in the early law, but now said to have become settled. That question regards the effect and efficacy of a conveyance of the mortgaged land, or a transfer of the equity of redemption, by the mortgagor to his mortgagee. It seems to have been cheerfully assumed by some lawyers, and by laymen in general, that in the absence of liens subsequent to the mortgage, the procedure is perfectly safe and proper in every case. It is the purpose of this discussion, however, to point out certain dangers inherent in the practice and to suggest possible safeguards. Certainly there is little room for its use if the title taken will be unduly subject to attack or defeat, or its marketability lessened to an appreciable extent. To the writer the problem seems of large importance at the present time, yet there appears to be no specific treatment of it in legal literature.

Recommended Citation

Elbridge D. Phelps, MORTGAGES - DEED IN LIEU OF FORECLOSURE - VALIDITY, 36 Mich. L. Rev. 111 (1937).
Available at: https://repository.law.umich.edu/mlr/vol36/iss1/9