The Mortgagee’s Interest in the Condemnation Award for a Partial Taking of the Mortgaged Property

Date

1973

Journal Title

Journal ISSN

Volume Title

Publisher

Texas Tech Law Review

Abstract

Discusses the creation of the Buell standard in determining the after partial taking award rights between a mortgagor and mortgagee. The author points out, the Buell decision, therefore, is an important addition to the Texas law of condemnation. While retaining the doctrinal consistency of the "impairment of security" standard, the Buell standard more adequately protects the mortgagee by allowing the trier of fact to also consider any reduction in the margin of security as damage to the security interest.

Description

Keywords

Condemnation, Mortgagor, Mortgagee, Partial taking, Property law, Security interest, Texas, Lien theory state, Impairment of security, Buell standard, Buell Realty Note Collection Trust v. Central Oak Investment Co., Case note

Citation

4 Tex. Tech L. Rev. 405