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Does the owner of a note have to possess the original note?

Orlando, FL |

I have read that when a note (I'm talking about a note associated with a mortgage) is indorsed in blank, then the physical bearer of the note is deemed by the courts to own the note. Does that mean that whoever is claiming ownership has to hold the original of the note? My understanding is that the county recorder's office typically has scanned electronic copies of mortgages, notes, deeds, etc. If that is correct, who is supposed to retain the original of these documents?

Attorney Answers 3


you have asked very technical questions that require a more thorough review of the documents to provide an accurate answer. some of your questions have generic responses that are fraught with exceptions. an example is the "owner" of a note must have possession. however the servicer of the loan has standing to foreclose. further if the note is lost or otherwise unavailable the "owner" through the servicer may reform the note by statute. the subpart responses would provide you no beneficial assistance. you should really have the matter reviewed by a lawyer who would have the benefit of reviewing the documents and be in a position to specifically advise you on what your rights and obligations are

without a detailed review by a lawyer can all the issues raised in your question be appropriately addressed...nothing in this response should be construed as establishing a lawyer client relationship..the answers herein are for informational purposes and not to be construed as advice

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I concur with Mr. Tomberg. You need an attorney to fully review the case and all the documents. It is possible that the Plaintiff does not have possession of the original note and has not attempted to reform it correctly. If that is the case then you have defenses which should be raised. It is impossible, however, to tell from just your question if that is the case.

Please check out my website and send me an email if you would like to explore this further.

The above is opinion based on very limited facts and not legal advice. This is not a substitute for a consultation with an attorney and does not constitute the establishment of an attorney/client relationship.

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In short, with a note endorsed in blank, whoever holds the original note - owns the note.

Lenders typically did not record Promissory Notes. Additionally, many of the original notes were lost or "misplaced" during the securitization process.

This information is for educational purposes only and is not to be relied upon as legal advice, legal opinion or as a complete answer/information to/for this discussion. You should always seek competent legal advice from a licensed attorney in your area for help with your specific legal question. No attorney - client relationship is created, intended or should be construed upon from this general discussion. For a free consultation, you may contact me at (305) 320-4LAW.

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