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

Abstract

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

Suggested Citation

Nwogugu, Michael C. I., Constitutionality of Us Bankruptcy Code Preemption of Mortgage Foreclosure Statutes, and Related Economic Effects (2006). Available at SSRN: https://ssrn.com/abstract=955914 or http://dx.doi.org/10.2139/ssrn.955914

Michael C. I. Nwogugu (Contact Author)

Independent ( email )

P. O. 996
Newark, NJ 07101
United States

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