Limited Freehold for Minimization of Mortgage Debt and Systematic Environmental Administration
10 Pages Posted: 24 Aug 2009
Date Written: August 24, 2009
Limited Freehold is posed as a new tenure to reduce the size of mortgages and as a basis for environmental administration. The concept is explained through eGanges applications with River maps of the rule logic. River maps are useful fictions for the management of large complex information and the development of law reform analysis and proposals. The new tenure is produced by revision of feudal presuppositions of tenure in perpetuity which is not suited to the contemporary capitalist system. A fee simple term of years with environmental covenants running with the title fills a gap in the law which offers greater flexibility and social sustainability. Sustainable mortgages introduce problems of diminishing security so that mortgagees would have to attend to monitoring appropriate diminishing mortgage debt and debtor portfolio security. The reform is appropriate to the Age of Science and Technology.
Keywords: Limited Freehold, mortgage, land tenure covenants, problem system, eGanges, feudal presuppositions
JEL Classification: K11
Suggested Citation: Suggested Citation