The UCC and Mortgage Notes

If you’re attending the New York UCC seminar this weekend, your timing couldn’t be better:  Earlier this week the Permanent Editorial Board for the Uniform Commercial Code (PEB) issued its report , Application of the Uniform Commercial Code to Selected Issues Relating to Mortgage Notes. The report specifically indicates that “It should not be assumed that all mortgage notes are …

Obstacles to Negotiability of Residential Mortgage Notes, Part III

This is the third installment in Max’s analysis of the issues surrounding negotiability of residential mortgage notes, drawing language and analysis from In re Veal but also addressing issues beyond the context of that case.  This segment discusses Article 9. If you haven’t already, you may want to read Part I, a primer on negotiability and Part II on why residential mortgage …

Obstacles to Negotiability of Residential Mortgage Notes, Part II

This is the second installment in Max’s analysis of the issues surrounding negotiability of residential mortgage notes, drawing language and analysis from In re Veal but also addressing issues beyond the context of that case.  This segment discusses why residential mortgage notes are not negotiable instruments. If you haven’t already, you may want to read Part I, a primer on …

Obstacles to Negotiability of Residential Mortgage Notes, Part I

In the series that begins below, Max analyzes the issues surrounding negotiability of residential mortgage notes, drawing some laguage and analysis from the In re Veal ruling, but also addressing the issues more comprehensively and from a broader perspective.  This first segment discusses negotiability generally; subsequent segments will address why residential mortgage notes aren’t negotiable interests and Article 9. INTRODUCTION …