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No Freedom without RegulationThe Hidden Lesson of the Subprime Crisis$
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Joseph William Singer

Print publication date: 2015

Print ISBN-13: 9780300211672

Published to Yale Scholarship Online: January 2016

DOI: 10.12987/yale/9780300211672.001.0001

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PRINTED FROM YALE SCHOLARSHIP ONLINE (www.yale.universitypressscholarship.com). (c) Copyright Yale University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in YSO for personal use.date: 11 August 2020

Why Private Property Needs a Legal Infrastructure

Why Private Property Needs a Legal Infrastructure

Chapter:
(p.95) 4 Why Private Property Needs a Legal Infrastructure
Source:
No Freedom without Regulation
Author(s):

Joseph William Singer

Publisher:
Yale University Press
DOI:10.12987/yale/9780300211672.003.0004

Chapter 4 explains why private property needs a regulatory infrastructure. Property cannot exist if we do not have relatively clear rules about who owns what. But it also cannot operate justly if we do not ensure that property rights are not abused so as to cause harm to others. The mechanisms used to market subprime mortgages violated the justified expectation of borrowers and undermined the clarity of land titles. These subprime practices are a vivid reminder of the reasons why laws are needed to create a viable infrastructure for both markets and private property.

Keywords:   property, private property, law, regulation, title, subprime, MERS, Mortgage Electronic Registration Systems, foreclose, foreclosure, recording, deeds, ownership, law, regulation, freedom, democracy

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