The Mortgage-Follows-the-Note Rule - Part II of IV • NACTT Academy

The Mortgage-Follows-the-Note Rule – Part II of IV

By James M. Davis, Staff Attorney Office of the Chapter 13 Bankruptcy Trustee, Nashville, TN
(Reprinted from Norton Bankruptcy Law Adviser, September 2013, with permission. Copyright © 2013 Thomson Reuters/West. For more information about this publication please visit http://legalsolutions.thomsonreuters.com/.)

II. Applying the Mortgage-Follows-the-Note Rule in Light of the Distinction between Ownership and Entitlement to Enforce Notes

Ownership of a note and entitlement to enforce the note are not necessarily identical. The possible separation of ownership and entitlement to enforce . . .

It looks like you are not signed in or registered! This content is only available to members.

Or Sign In Below:

No Author Biography has been linked to this Article.

Meet One of Our Newest Trustees

January 13, 2019

Jason Wilson-Aguilar was appointed as the Chapter 13 Standing Trustee for Western District of Washington, Seattle Division, effective on October 2, 2018. He replaces retiring K. Michael (Mike) Fitzgerald who served as the Standing Trustee for nearly twenty years. During the ten years prior to his appointment as Trustee, Jason was the Senior Staff Attorney and Legal Department Manager in...

Members

Best Practices in Bankruptcy: Power of Attorney or Guardian

Michael B. Joseph

June 12, 2022

It is always troublesome when an individual bankruptcy petition is filed by power of attorney. It may be less of a concern in a chapter 7 case when the debtor is in the military, incarcerated, or temporarily disabled. More worrisome is the incompetent or advanced aged debtor who has been placed in a chapter 13 by someone holding a power...

Members

Weighted Caseload: Why It Matters and How It Works and Doesn’t Work

Honorable Brian D. Lynch

December 31, 2023

“Currently, if a district’s weighted caseload is below one-thousand per the number of judges in that district . . . in all probability, recommend that the circuit not replace the judge.”

Members

Critical Case Comment – Don’t File a Individual Chapter 13 If the Assets Are Owned by an LLC; It Will Cost You – BIG

Henry E. Hildebrand, III

September 25, 2022

Where a debtor and debtor’s counsel initiated a Chapter 13 petition in an effort to halt a foreclosure against property held by the debtor’s LLC, and where the debtor took no steps to correct the filing, sanctions would be imposed against debtor’s counsel. (Grabill) In re Scaccia, 2022 WL 1216284 (Bankr. E.D. La. April 25, 2022) Case Summary Scaccia owned...

Members

From the Editor

September 20, 2020

By The Honorable William Houston Brown (Retired) Three-month delay in completing bare-bones petition. When the Chapter 13 debtor filed a skeletal petition, her motion for more time to complete schedules, statement and plan was denied, with no cause found for extending time after three-month delay, and show cause hearing was set to determine if case should be dismissed with 180-day...

Members

What is a “Consumer Debt”?

M. Jonathan Hayes

April 21, 2024

By highlighting Judge Stephen Johnson's rulings and insights, Hayes brings readers an analysis of the definition of what consumer debt is . . . and is not.

Members

A Confirmed Plan with a Marijuana Wrinkle

May 19, 2019

By Gretchen D. Holland, Standing Chapter 13 Trustee for the Greenville/Spartanburg Division of South Carolina Although this is a chapter 11 case, it has chapter 13 implications because the confirmation requirement that a plan be “proposed in good faith and not by any means forbidden by law” is identical in both chapters (§ 1129(a)(3) and § 1325(a)(3)). Garvin v. Cook...

Members

Obtaining Credit in Chapter 13 – Did the Amendment to FRBP 4001(c) Eliminate Motions to Incur Additional Credit?

March 1, 2020

By Nathan E. Curtis and Peter Francis Geraci, Geraci Law LLC (Chicago, IL) Time does not stand still while a debtor is in Chapter 13. Nor do income and expenses. Ideally, consumer debtors who have filed a chapter 13 would not need to obtain credit during the term of their plan. Unfortunately, circumstances sometimes get in the way. The most...

Members

The First Thing a Chapter 13 Debtor’s Attorney Should Know About the Small Business Reorganization Act of 2019

October 13, 2019

By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Click here for Part I, Introduction to the 2019 Legislation Click here for Part II, Five Things a Trustee Should Know About SBRA Part III The Small Business Reorganization Act of 2019 (SBRA)1 is of interest to attorneys whose clients in troubled . . . It looks like you are...

Members

In re Kaiser Gypsum Co., Inc., 60 F.4th 73 (4th Cir. 2023), pet. for cert. granted, Truck Ins. Exchange v. Kaiser Gypsum Co., Inc., 2023 WL 6780372, (U.S., October 13, 2023).

The Honorable William Houston Brown

October 29, 2023

The Fourth Circuit Court of Appeals held that a plan proposal to create an asbestos trust through Chapter 11 bankruptcy was “insurance neutral,” and the debtor’s insurer was not a party in interest under Code § 1109(b), which contains a noncomprehensive list of parties in interest to a Chapter 11 case. Whether the insurer was a party in interest determined whether...