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12 U. Cin. L. Rev. 1 (1938)
Disbursement of Ohio Construction Mortgage Loans

handle is hein.journals/ucinlr12 and id is 7 raw text is: University of Cincinnati Law Review VoLumn XII JANUARY, 1938 No. 1 DISBURSEMENT OF OHIO CONSTRUCTION MORTGAGE LOANS JAMES L. MAGRISH, Of the Cincinnati Bar The term construction mortgage may be used to indicate that the proceeds of the loan secured by such mortgage are to be used for the improvement of the mortgaged real estate whether or not the security is a technical mortgage under General Code of Ohio, Section 8321-1: ... given in whole or in part to improve real estate or to pay off prior encumbrances thereon, or both. In either case the mortgagee usually has two objects in view: (1) being assured that the real estate shall be im- proved in the manner contemplated by the mortgagee, and (2) that the lien of the mortgage shall be prior to other encumbrances. The first object is sought by disbursing the loan as the improvement proceeds, or, if possible, after it is completed. In practice disbursement during the progress of the im- provement is the more frequent requirement, and the

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