Law Center News
Prof. Odinet gives talk to NOLA Bar Assoc. on real estate lending
Prof. Chris Odinet was invited to give a lunchtime presentation to the Real Property Committee of the New Orleans Bar Association on Wednesday, June 29, 2016.
Odinet’s talk was on recent trends in real estate finance, particularly those involving banks requiring that real estate developers put up as collateral their control rights over the board of directors in homeowners and condo associations. He explained that the law governing these types of encumbrances is uncertain and in need of clarification in Louisiana.
“It’s very common in real estate developments today–whether condos, traditional subdivision neighborhoods, or mixed-use projects–that the developer will maintain control over the board of the owners’ association for a certain period of time,” said Odinet. “Banks want this control power as collateral along with mortgaging the property itself, but the state of the law for these types of secured transactions is cloudy.”
Odinet serves as the reporter for the Louisiana State Law Institute’s work on revising the homeowners and condo statutes, a process in which he hopes to lend some clarity to this area of the law. His article discussing these issues is forthcoming in the American Bar Association’s publication Probate & Property, July/August issue.
Odinet is an assistant professor of law and the Horatio C. Thompson Endowed Professor at the Southern University Law Center. He is a frequent speaker on issues related to mortgage finance, real estate, and consumer financial protection. His research focuses on the role that debt and credit play in property-related transactions. He is currently serving as the 2016-18 Louisiana Bar Foundation Scholar-in-Residence. View his scholarship by clicking here.
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