Constitutionality of Us Bankruptcy Code Preemption of Mortgage Foreclosure Statutes, and Related Economic Effects
38 Pages Posted: 13 Jan 2007 Last revised: 30 Nov 2009
Date Written: 2006
This article: 1) analyzes the constitutionality of US Bankruptcy Code preemption of State-law Mortgage Foreclosure laws; and 2) analyzes inherent conflicts between the federal bankruptcy laws and state real estate laws; 3) shows that these violations of constitutional law and conflicts-of-laws create increased information asymmetry, increased transaction costs and compliance costs, and inefficiency in real estate transactions.
Keywords: Bankruptcy law, real property prices, foreclosure laws, complexity, capital markets, secured transactions
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