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In our last episode we were talking about the "DD's" and the "DD progeny".  Let's look at the DD Progeny. 

 

The brilliance of the interlopers (aka the parents of "ghost claimants") is that they understand our social communities acceptance of "facial valid" documents.  They understand that what the "MoD" doesn't OBJECT to will be accepted as valid.  They exercise their claims knowing that 99% will not object and do not know the ramifications of not OBJECTING.

Here are the most common "DD progeny".

  • Assignment of Deed of Trust

    • This instrument is supposed to move an INTEREST identified in the original Definitive Documents to a "different entity". 

    • It is supposed to identify the original parties, the original security instrument, the original corresponding promissory note and the original debt obligation.

    • the party who initiates the "assignment" is called the "Assignor".

    • the party who receives the "assignment" is called the "Assignee".  

    • this is an exclusive right of the LENDER and happens all the time.

      • what is most irregular is that this RIGHT is exercised by a party who is NEVER NAMED AS A LENDER in any of the "DD's".   Hummmmm!

SIDENOTE: A Party can never transfer an INTEREST greater than what they have.  ​

  • “The note and mortgage (deed of trust) are inseparable; the former as essential, the latter as an incident.  An assignment of the note carries the mortgage with it, while an assignment of the latter alone is a nullity.”  Carpenter v. Longan (USA 1872)

  • CA. Civ. Code § 1558 provides that parties to a contract must not only exist, but must be identifiable. 

A Deed of Trust (DOT) moves by assignment and is the lien interest. 

A Promissory Note (PN) moves by negotiation and is the right to collect, right to enforce interest.

 

  • A DOT without the corresponding PN is a lien only and NOT A RIGHT TO COLLECT OR ENFORCE...it does not offer a claim of default.

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  • A PN without the corresponding DOT is a right to collect and enforce WITHOUT THE CORRESPONDING SECURITY.  Remember, most Courts of Equity and Law will follow the Security follows the PN theory.

Anyone claiming an interest in your real property MUST HAVE admissible evidence of their claim (via assignment or negotiation) giving them a lawful right to collect and right to enforce and affording them an opportunity to explain how they obtained said benefits.  

Remember, there are 3 parts to a Mortgage Event creation.  The creation of the Deed of Trust (Security Instrument).  The creation of a Promissory Note (Debt Instrument).  The creation of the "Debt Obligation" by operation of law pursuant to an EXCHANGE of VALUE.  We have a property to save.

[Season 1, Episode 10]