Legal Opinion
Arnold v. DMR Financial Services, Inc.
Michigan Supreme Court
Decided May 31, 1995No. 99689, (Calendar No. 9)PublishedCited by 12 opinions
1Opinion of the Court
AFTER REMAND
Weaver, J.
We granted leave in this case to address whether an unrecorded security assignment of a mortgage prevents the mortgagee of record from foreclosing by advertisement. We conclude that it does not, and hold that only the record holder of the mortgage has the power to foreclose and that the validity of the foreclosure is not affected by any unrecorded assignment of interest held for security.
On October 30, 1985, Donald and Dawn Fulton entered into a mortgage with defendant DMR Financial Services, Inc., to finance a house. The Fultons insured the mortgage with the Department…
2Cases cited6 opinions
- Senters v. Ottawa Savings BankMichigan Supreme Court · 1993
- Jackson Investment Corp. v. Pittsfield Products, Inc.Michigan Court of Appeals · 1987
- Allardyce v. DartMichigan Supreme Court · 1939
- Feldman v. Equitable Trust Co.Michigan Supreme Court · 1937
- Soufal v. GriffithSupreme Court of Minnesota · 1924
1 more not listed; retrieve them via the Exa API.
3Cited by12 opinions
- Livonia Properties Holdings, LLC v. 12840-12976 Farmington Road Holdings, LLCCourt of Appeals for the Sixth Circuit · 2010
- Livonia Property Holdings, L.L.C. v. 12840-12976 Farmington Road Holdings, L.L.C.District Court, E.D. Michigan · 2010
- Davenport v. HSBC BANK USAMichigan Court of Appeals · 2007
- Residential Funding Co. v. SaurmanMichigan Court of Appeals · 2011
- In re First Mortgage Fund, Inc.District Court, E.D. Michigan · 2013
7 more not listed; retrieve them via the Exa API.