Shapiro v. Family Bank of Hallandale

SCHWARTZ, Chief Judge.

It is unnecessary in this case to decide whether, as the appellant contends, a borrower’s physical possession of the note involved in a note and mortgage financing transaction ordinarily prevails over the security interest of the lender notwithstanding that the lender has recorded an assignment of the mortgage. See J. White & R. Summers, Uniform Commercial Code § 23-7, at 270-72 (3d ed. 1988). Contra Rucker v. State Exchange Bank, 355 So.2d 171 (Fla. 1st DCA 1978), cited in General Elec. Credit Corp. v. Air Flow Indust., 432 So.2d 607 (Fla. 3d DCA 1983). This is because…