Real Estate Papers

Title

Dequity: The Blurring of Debt and Equity in Securitized Real Estate Financing

Document Type

Journal Article

Date of this Version

2005

Publication Source

Berkeley Business Law Journal

Volume

2

Issue

2

Start Page

235

Last Page

261

DOI

10.15779/Z381K32

Abstract

This paper explores the legal differentiation of equity and debt in subordinate real estate financing. Various financing vehicles that occupy a gray space between true debt and true equity have replaced traditional asset secured debt lending. This paper investigates the legal rights and responsibilities of parties functioning in the gray area. The goal of this examination is to identify potential conflicts and unforeseen consequences of investments possessing attributes of both equity and debt in the event of default.

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Date Posted:11 December 2017