The Real Deal Miami

Banks must prove they own mortgages

October 28, 2010 11:15AM

Florida Fourth District Court of Appeal

According to a ruling by the Fourth District Court of Appeal in West Palm
Beach yesterday, banks will be required to show evidence that they own
and hold the mortgage on properties when asking to foreclose on them. A
three-judge panel overturned an earlier summary judgment that had given
the U.S. Bank National Asosciation approval to repossess a Boca Raton
home despite not showing the original note or other acceptable proof of
ownership. “Some judges have been lax about the rules of evidence,” said
Peter Snyder, a Boca Raton lawyer. “I think that what this case says is
you better have the original note.” [Sun