Quote:
Originally Posted by Hitch
Sorry, Ralph, but it is you who are wrong. Yes, mortgages are bought and sold, like all OTHER financial instruments. But they are not property, in the sense of the discussion that we're having here. You can place a mortgage upon property--but they are NOT PROPERTY in any definition or legal sense of the word. They are financial instruments, which are a whole other thing--contracts. That's all they are.
I'm not a lawyer--but I spent 3 decades running the Litigation Strategy Division of a major RE Development firm. I ran up to 40 lawyers at any given moment, and I've spent my life with my nose in Statutes and law. You can argue all you want, but they are simply contracts. And just like any other contract can be assigned, bought or sold, so can mortgages.
Please, if you don't want to believe me, ask any attorney. But this whole "because we THINK X, we can categorize stuff as Y" conversation is getting a bit tedious. You can think whatever you want, but it doesn't make it so.
Hitch
|
And what is a copyright but a CONTRACT? Which was my original point. A contract between a creator and a government, which both grants and enforces the contract!
A copyright is no more property than a bond is a property. Either both are or they aren't.
Please show me, in functional description the difference. Not verbal terminology, which has been used sloppily for centuries, but actual functional differences.