The Mortgage-Follows-the-Note Rule[1] - Part I of IV • NACTT Academy

The Mortgage-Follows-the-Note Rule[1] – Part I of IV

(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/.)

By James M. Davis, Staff Attorney Office of the Chapter 13 Bankruptcy Trustee, Nashville, TN

A longstanding common law principle, recognized in some form in all or nearly all jurisdictions, holds that the transfer of an obligation secured by a mortgage on property also constitutes a transfer of the mortgage. In its most robust form, this rule provides a valuable . . .

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