Michigan Court Recharacterizes A Deed As A Mortgage (Again)
equitable mortgage
The Michigan Court of Appeals (in a 2005 case) again ruled that a deed, given as security for a loan, is not an absolute conveyance; rather, it is to be treated as nothing more than a secured loan. This is the third case that I've reported on that, in interpreting and applying Michigan law, a court has refused to follow the form of a transaction as a conveyance and, instead, looked to the actual substance of an arrangement to declare a deed (absolute in form, given as security for a loan) a mortgage.
To read a more extensive post on this case, see Paris v. Green; Michigan Court Declares Deed A Mortgage (Again) at a companion blog, The Home Equity Theft Reporter Cases & Articles.
Click here to search for similar posts on this issue on this blog.
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The Michigan Court of Appeals (in a 2005 case) again ruled that a deed, given as security for a loan, is not an absolute conveyance; rather, it is to be treated as nothing more than a secured loan. This is the third case that I've reported on that, in interpreting and applying Michigan law, a court has refused to follow the form of a transaction as a conveyance and, instead, looked to the actual substance of an arrangement to declare a deed (absolute in form, given as security for a loan) a mortgage.
To read a more extensive post on this case, see Paris v. Green; Michigan Court Declares Deed A Mortgage (Again) at a companion blog, The Home Equity Theft Reporter Cases & Articles.
Click here to search for similar posts on this issue on this blog.
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posted by Home Equity Theft Reporter at 9:39 AM
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