Tax increment financing (TIF) is one of public financing practices in which future tax revenues of the designated district or any license is sold or assigned to a third party, in exchange for a cash payment. TIF is mostly used by local governments/municipalities to combat fiscal constraints and...

Since the 2007 financial crisis, the mortgage market has been renovating its tools and instruments in order to avoid a new crisis. One such innovative instrument is the participating mortgage, in which the lender gains part of the net operating income and/or future appreciation. In this paper,...