Abstract

AbstractFor any commercial real estate loan in the USA, the closing and documentation process combines traditional principles and practices of US real estate law — some dating back centuries to English common law — with the global capital markets, a fast‐moving marketplace, and painful lessons learned in the USA's real estate depression of the early 1990s. Against that backdrop, lenders and borrowers must bring together dozens of processes, participants and other pieces to document and close any commercial mortgage loan. This paper focuses on all those elements, for comparison against commercial mortgage lending procedures in other countries and as a reminder of basic principles for commercial mortgage lenders and their advisors in the USA. Copyright © 2003 Henry Stewart Publications

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