Recent Land Court Decision Troubles Foreclosure and Conveyancing Bar

4/9/2009

A case handed down late last month invalidated two out of three foreclosures referenced in the Land Court decision and questioned the validity of REBA Title Standard No. 58, Out of Order Recording of Mortgage Discharges and Assignments. A motion to vacate the judgment was filed by the plaintiff on April 2, 2009.

The decision, particularly if applied retroactively, would create problems with many titles where assignments of mortgage were recorded out of order or secured subsequent to the publication of the notice and the actual foreclosure auction.

The Land Court decision, U.S. Bank National Association, trustee vs. Antonio Ibanez, and two companion cases, can be accessed by clicking here.