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Case Citations July 2015 through February 2016 [1] (2015-2016)

handle is hein.ali/retpmrtges0018 and id is 1 raw text is: PROPERTY 3D: MORTGAGES CHAPTER 1. CREATION OF MORTGAGES § 1.1 The Mortgage Concept; No Personal Liability Required C.A.1, Bkrtcy.App.2014. Com. quot. in case. quot. in sup. Chapter 7 trustee filed a claim against creditor who was a downstream assignee that sought to collect on a lost mortgage note and enforce the mortgage securing the note. The bankruptcy court ruled in favor of plaintiff on the note and in favor of defendant on the mortgage. This court affirmed, holding that defendant was not the true holder of the note but he held the mortgage in trust for one who was. The court rejected plaintiff's argument, in which he cited Restatement Third of Property: Mortgages § 1.1, and explained that the mortgage was not a nullity because it secured the note before it was lost, concluding that defendant was entitled to possession of the proceeds of the sale of the property, but only for the benefit of the holder of the note. In re Harborhouse of Gloucester, LLC, 523 B.R. 749, 755. CHAPTER 3. MORTGAGOR'S EQUITY OF REDEMPTION AND MORTGAGE SUBSTITUTES § 3.2 The Absolute Deed Intended as Security Mass.2015. Com. (g) quot. in diss. op. After lender foreclosed on borrowers' property by exercising the power of sale contained in its mortgage on the property, borrowers sued lender and buyer that purchased the property at the foreclosure sale, seeking a declaration that the sale was void because lender failed to strictly comply with the mortgage's notice provisions. The trial court granted summary judgment for buyer. Reversing and remanding, this court held that lender's failure to strictly comply with the notice provisions rendered the sale void. The dissent argued that the notice required by the mortgage was not a component of the power of sale and, as a result, lender's failure to comply with the notice provision rendered the foreclosure sale voidable rather than void. The dissent noted that, under Restatement Third of Property: Mortgages § 3.2, where a foreclosure sale was voidable, a mortgage borrower could obtain relief against the lender and purchasers having notice of the defect, but would not prevail in equity against a bona fide purchaser. Pinti v. Emigrant Mortg. Co., Inc., 33 N.E.3d 1213, 1228. § 3.4 A Contract for Deed Creates a Mortgage C.A.6, 2015. Subsec. (a) quot. in sup.; com. (a) quot. in sup. Chapter 7 bankruptcy trustee sought to bring into the bankruptcy estate a good-faith deposit made by buyer as part of a real-estate purchase agreement that buyer assigned to debtor before debtor filed for bankruptcy. The bankruptcy court and district court rejected plaintiff's request, finding debtor did not possess a legal or equitable interest in the k4 ulE For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination.

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