Thursday, January 19, 2012

Bank of NY Trust v. Rodgers: Florida court says that there is sand in the gears of our property transfer system!

It is apodictic there can be no cause of action to foreclose a mortgage unless
we know where the paper is and that it actually represents something.

There is much “sand in the gears” of our property transfer system in these times. However, we cannot bend the rules. A person seeking to enforce an instrument conveying an interest in real property must demonstrate he has directly or indirectly acquired ownership of the instrument. The majority errs by not insisting upon this fundamental precept in this case.

You can read the court document. Click here.

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