A vision of what continues to happen in plain sight. Let's take another look at our real property transactions. Creating the American Dream means to enter into a Real Property Transaction (RPT).
The RPT results in what is universally recognized as a "Mortgage Event" and the unique capture of Real Property. From that “RPT” being implemented, people create shelter, wealth and status in their personal and group communities.
The essential players in a real property transaction are the "Seller-Debtor" and the "Buyer-Debtor". All other participants (aka "the Day Players") are "passing through" without any "skin in the game". The party all begins with a "REAL" understanding of the 30 year financial commitment and the basis of that commitment.
A "Real Property Transaction" is the sum of all acts that create a "Mortgage Event" and simultaneously resolve a "Mortgage Event".
A "Mortgage Event" is the sum of all acts that afford the "Seller-Debtor" and the "Buyer-Debtor" to get what they are "bargaining for" in said "Real Property Transaction".
As we started this "reverse engineering" we asked several dozen "Day Players" what the "SD and BD" are bargaining for and the meanings of what they are bargaining for in the buying and selling of real property. None of the high commission "Day Players" could answer correctly. Hummmm!
The "Seller-Debtor" (SD) is always bargaining for a "discharge of the debt" and the "Buyer-Debtor" (BD) is bargaining for a "Marketable Title", a "Clear Title" and a "Good Title". The meanings of each are...
Discharge of the Debt = Return of the "Blue Ink Note", Satisfaction of the Security Instrument and Reconveyance of the Security Instrument.
Marketable Title = one which does NOT contain any manner of "defect" or "outstanding interest" or "claim" which may conceivably operate to defeat or impair the interest which is "bargained for" and is "intended to be conveyed".
Clear Title = A title free from any encumbrances, burdens, or other limitations.
Good Title = A title that is legally valid or effective
The beginning of all "Real Property Transactions" are in reality a birth of a "mortgage event" and a resolve of a "mortgage event". In that description is found 3 inseparable creations. There are 2 definitive documents and 1 principle of law.
The first document (the Incident) is commonly known as a Security Instrument (Deed of Trust or Mortgage). This document is representative of a lien against the security that is being acquired. It is usually evidence of the asset held for lien and the terms under which the asset can be re-claimed by the Lender/Creditor.
The second document (the Thing) is commonly known as a Promissory Note. This document is representative of the language of the intended debt obligation.
The third is an 'EVENT' onto itself created by "the merger rule". This happens by operation of law upon the "exchange of value" between the Mortgagor/Borrower and Mortgagee/Lender. It is a legal presumption that when you get something it is NOT a gift. This "event" happens without any intervention of the court…and becomes the "debt obligation".
The birth of "MORTGAGE EVENTS" usually includes the 3 parts listed above. These parts MUST BE TOGETHER for a claim against the "Subject Real Property" to be valid or functional to a lawful fruition. It is necessary that the life path of the "mortgage event birth" deliver to each subsequent party "a lawful possession of a tangle interest" for the "mortgage event resolve".
Now let's go backwards. Let's talk about 21st Century Real Property Transactions and how they operate to create an obfuscation of Ownership from the very beginning. This phenomena happens because of "Securitization", "Table-Funded Loans" and "MERS" (the infamous Nominee of an alleged lender financial institution). What the heck is a "Nominee" in a Real Property Transaction?
Side Note: the signing of Escrow Documents doesn't equate to consummation for the birth of the "mortgage event".
Side Note: Consummation of an Agreement will be a constant reference in any challenge (claim/action) to real property ownership. The term and its corresponding reference will be a posture of beneficial interest claimants for years to come.
Consummation is (California) a point where the Mortgagor/Debtor (MoD) becomes "contractually obligated". A Mortgagor/Debtor (MoD) becomes contractually obligated when there is (1) a lawful object; (2) mutual consent; (3) parties capable of contracting; and (4) sufficient cause or consideration (CCP § 1550).
When we use "not so common sense" we must ask ourselves this, "if we got a "table funded loan" and the very nature of this process feigns being a bona fide lender, then how do we have a "meeting of the minds" and "a choice of who we are borrowing from"?
Where there is no reasonable evidence of consummation where goes the Truth in Lending? We have a property to save.
[Season 1, Episode 1]