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cfortunato
cfortunato, Attorney
Category: Bankruptcy Law
Satisfied Customers: 8023
Experience:  Bankruptcy professor.
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Would the information below apply if the assignment said that

Resolved Question:

Would the information below apply if the assignment said that it transferred all rights, TITLE, and interest...and that it is being done in a Chapter 7 Bankruptcy. Since it said TITLE, I would think the following case information would NOT apply, but I want to double check. Thanks for your help.

http://scholar.google.com/scholar_case?case=5414241348759034772&q=bankruptcy+assignment+of+mortgage&hl=en&oe=ASCII&num=100&as_sdt=3

I find no merit in this argument or any of its parts. The postpetition assignment of a mortgage and the related note from one holder to another is not a transfer of property of the estate. The mortgage and note are assets of the creditor mortgagee, not of the Debtor. Nor is the postpetition assignment of a mortgage and the related note an act to collect a debt; the assignment merely transfers the claim from one entity to another. The Debtor cites no particular subsection of 11 U.S.C. § 362(a), the automatic stay, that she contends such an assignment violates, and the court is aware of none.

I need not address the Debtor's further unsupported contention that the postpetition recording of an assignment of mortgage is a violation of the automatic stay[13] or of 11 U.S.C. § 549(a).[14] As the 23*23 Debtor herself acknowledges, an assignment of mortgage need not be recorded in order to be valid against the mortgagor or her grantees. Lamson & Co. v. Abrams, 305 Mass. 238, 241-242, 25 N.E.2d 374 (1940); O'Gasapian v. Danielson, 284 Mass. 27, 32, 187 N.E. 107 (1933). Therefore, even if the recording were void and ineffectual, the assignment
Submitted: 6 years ago.
Category: Bankruptcy Law
Expert:  cfortunato replied 6 years ago.

Hi JACustomer,

Are you asking about a transfer of property to or from a Chapter 7 debtor?

Customer: replied 6 years ago.
The transfer would be from A bank to B bank during a Chapter 7. The assignment is for all title and interest..Thanks!
Expert:  cfortunato replied 6 years ago.

If the all interests are being transferred from one lender to another - and not from or to the Bankruptcy debtor - the case you cited would apply. This is because the interests, like the mortgage and note, are also "assets of the creditor mortgagee, not the debtor".

 

I think this is what you wanted to know. If not, please let me know.
Thank you!

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