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Refinancing a first mortgage puts legal principles in conflict when other, junior, liens also exist. On one hand, the … principle that seniority follows time priority leaves the new refinancing mortgage junior to mortgages that were junior to the … original, refinanced first mortgage. On the other hand, the principle of equitable subrogation gives the refinancing mortgage …
Persistent link: https://www.econbiz.de/10012857139
reverse mortgage. We also found that, in contrast, the younger generation's desire for inheritance in residential areas such … regarding their inheritance, (2) to demonstrate why the younger generation, between 25 and 35, hesitate to agree with their … parents' access to reverse mortgage and (3) to identify four group (demographic and geographic, residential condition …
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Retired homeowners dissave more slowly than renters, which suggests that homeownership affects retirees' saving decisions. We investigate empirically and theoretically the life-cycle patterns of homeownership, housing and nonhousing assets in retirement. Using an estimated structural model of...
Persistent link: https://www.econbiz.de/10012198364
) and inheritance rules (partition versus primogeniture). After controlling for economic, institutional, religious, and … equal partition of inheritance. We also find that only the effect of inheritance rules persists over the 1971–2001 period. …
Persistent link: https://www.econbiz.de/10011397670
The Carnegie effect (Holtz-Eakin, Joualfaian and Rosen, 1993) refers to the idea that inherited wealth harms recipients' work efforts, and possesses a key role in the discussion of taxation of intergenerational transfers. However, Carnegie effect estimates are few, reflecting that such effects...
Persistent link: https://www.econbiz.de/10010518824
of cash. Recent evidence suggests inheritance-related work disincentives can be strong - unexpected inheritances can …
Persistent link: https://www.econbiz.de/10011418681
instrument. The exclusion restriction is that conditional on the total amount of inheritance, inheriting a home affects the …
Persistent link: https://www.econbiz.de/10011429581