foreclosure
Deed of Trust

It’s a Void Deed of Trust, but Foreclose Anyway Bankers

Here’s a summary by a Dallas lawyer about a recent  opinion in a real estate foreclosure dispute. He summarizes the current state of the law on some key principles (in his views):

  • When a national bank is sued as trustee in such a case, its citizenship controls the analysis of diversity, not that of the investors in the trust (applying and distinguishing Americold Realty Trust v. ConAgra Foods, 136 S. Ct. 1012 (2016));
  • Because “Texas follows the common-law maxim that the mortgage follows the note,” the trustee was “entitled to foreclosure on the property as holder of the note even if the assignment of the Deed of Trust was void observes as trustee of a real estate investment trust”; and
  • A fraud claim failed when the aggrieved party “did not allege that he initially intended to bid on the property before learning of a potential buyer and changed his position after speaking with U.S. Bank’s representatives.”

SGK Properties LLC v. US Bank, N.A., No. 17-20130 (Feb. 9, 2018).

Really? It’s a Void Deed of Trust, but Foreclose Anyway Bankers…

 

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  1. Pingback: Judicial or Non-Judicial Foreclosure let’s Fifth Rule for Bank – Laws In Texas

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Laws In Texas is a blog about the Financial Crisis and how the banks and government are colluding against the citizens and homeowners of the State of Texas and relying on a system of #FakeDocs and post-crisis legal precedents, specially created by the Court of Appeals for the Fifth Circuit to foreclose on homeowners around this great State. We are not lawyers. We do not offer legal advice. We are citizens of the State of Texas who have spent a decade in the court system in Texas and have been party to during this period to the good, the bad and the very ugly.

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