Deutsche Bank Nat’l Trust Co. v. Byrams, 2012 OK 4 (Okla., 2012)?quote:
CONCLUSION
?11 It is a fundamental precept of the law to expect a foreclosing party to actually be in possession of its claimed interest in the note, and have the proper supporting documentation in hand when filing suit, showing the history of the note, so that the defendant is duly apprised of the rights of the plaintiff. This is accomplished by showing the party is a holder of the instrument or a nonholder in possession of the instrument who has the rights of a holder, or a person not in possession of the instrument who is entitled to enforce the instrument pursuant to 12A O.S. 2001, ? 3-309 or 12A O.S. 2001, ? 3-418. Likewise, for the homeowners, absent adjudication on the underlying indebtedness, the dismissal cannot cancel their obligation arising from an authenticated note, or insulate them from foreclosure proceedings based on proven delinquency. See, U.S. Bank National Association v. Kimball 27 A.3d 1087, 75 UCC Rep.Serv.2d 100, 2011 VT 81 (VT 2011); and Indymac Bank, F.S.B. v. Yano-Horoski, 78 A.D.3d 895, 912 N.Y.S.2d 239 (2010).
REVERSED AND REMANDED WITH INSTRUCTIONS
Deutsche Bank Nat’l Trust v. Brumbaugh, 2012 OK 3 (Okla., 2012)?quote:
CONCLUSION
?12 It is a fundamental precept of the law to expect a foreclosing party to actually be in possession of its claimed interest in the note, and have the proper supporting documentation in hand when filing suit, showing the history of the note, so the defendant is duly apprised of the rights of the plaintiff. This is accomplished by establishing that the party is a holder of the instrument or a nonholder in possession of the instrument who has the rights of a holder, or a person not in possession of the instrument who is entitled to enforce the instrument pursuant to 12A O.S. 2001, ? 3-309 or 12A O.S. 2001, ? 3-418. 12A O.S. 2001, ? 3-301. Likewise, for the homeowners, absent adjudication on the underlying indebtedness, the dismissal cannot cancel their obligation arising from an authenticated note, or loan modification, or insulate them from foreclosure proceedings based on proven delinquency. See, U.S. Bank National Association v. Kimball 27 A.3d 1087, 75 UCC Rep.Serv.2d 100, 2011 VT 81 (VT 2011); and Indymac Bank, F.S.B. v. Yano-Horoski, 78 A.D.3d 895, 912 N.Y.S.2d 239 (2010).
REVERSED AND REMANDED WITH INSTRUCTIONS
HSBC Bank USA, Nat’l Ass’n v. Lyon, 2012 OK 10 (Okla., 2012)
Appellee must prove it is the holder of the note or the nonholder in possession who has the rights of a holder?prior?to the filing of the foreclosure proceeding.
Download the rulings:
Deutsche Bank National Trust Company vs. Byram
Deutsche Bank National Trust Company vs. Brumbaugh
HSBC Bank USA, Nat’l Ass’n v. Lyon, 2012 OK 10 (Okla., 2012)