A Very Brief Legal and Social History of Mortgage
Document Type
Book Chapter
Publication Date
2017
Editor(s)
Daivi Rodima-Taylor & Parker Shipton
ISBN
9780692861998
Publisher
BU Working Group on Land Mortgage and Financial Inclusion
Language
en-US
Abstract
Probably in every time when and place where an individual current possessor of land has had the ability to sell that land -- free of the claims of family members, social superiors, or others -- the current possessor has had the power to borrow money by putting up the land itself as a pledge or security for repayment of the loan. In past centuries, such arrangements were extreme last resorts when all other resources and recourses had been exhausted, and even then were usually transacted with lenders already known personally to the borrowers. What became much more common since the first half of the nineteenth century are the expectation that nearly every land-holding individual will use such an arrangement, the impersonality of the transaction, and its regular and ordinary use for the initial purchase of housing.
Recommended Citation
David J. Seipp,
A Very Brief Legal and Social History of Mortgage
,
in
Mortgage Across Cultures: Land, Finance & Epistemology
19
(Daivi Rodima-Taylor & Parker Shipton ed.,
2017).
Available at:
https://scholarship.law.bu.edu/faculty_scholarship/1836
Comments
Also published as Chapter 2 in Land and the Mortgage: History Culture, Belonging, Daivi Rodima-Taylor & Parker Shipton (eds.) New York : Berghahn Books. 2022
ISBN: 9781800733480