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Constitutional Law Keyed to Rotunda
Home Building v. Loan Association v. Blaisdell
Citation:
290 U.S. 398 (1934)Facts
In 1933, during the Great Depression, Minnesota adopted a Mortgage Moratorium Law, which provided that, during the emergency declared to exist, relief may be had through authorized judicial proceedings with respect to mortgage foreclosures and execution sales of real estate, in the form of postponement of sales and extensions of periods of redemption. The law provided that it was to remain in effect only during the continuance of the emergency and in no event beyond May 1, 1935. The courts could not extend the period of redemption or postpone the sale beyond that date. The state courts were authorized to extend the period of redemption pursuant to the state Act enacted prior to this case. Blaisdell invoked the statute and secured a judicial order extending the period of redemption. Because of the extension, the mortgagee was unable to obtain possession as it would have been able to do had the statute not been enacted.
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