State Street Bank And Trust Company v. Lord
851 So.2d 790 (2003)
Nature Of The Case
This section contains the nature of the case and procedural background.
Facts
P brought an action to foreclose on a mortgage. P sought to establish the promissory note and mortgage under section 71.011, Florida Statutes. P alleged that Hartley executed the note and mortgage and that, after multiple assignments, the documents were assigned to P by EMC Mortgage Corporation. P alleged that the original documents were received but the record established that P never had possession of the original note and, further, that its assignor, EMC, never had possession of the note and, thus, was not able to transfer the original note to P. The court concluded that as P never had actual or constructive possession of the promissory note, it could not as a matter of law, maintain a cause of action to enforce the note or foreclose the mortgage. The right to enforce the lost instrument was not properly assigned where neither P nor its predecessor in interest possessed the note and did not otherwise satisfy the requirements of section 673.3091, Florida Statutes, at the time of the assignment. D was granted summary judgment. P appealed.
Issues
The legal issues presented in this case will be displayed here.
Holding & Decision
The court's holding and decision will be displayed here.
Legal Analysis
Legal analysis from Dean's Law Dictionary will be displayed here.
© 2007-2025 ABN Study Partner