Ibanez: A 19th-century decision for the 21st century


"The Massachusetts Supreme Judicial Court issued its opinion in U.S. Bank National Association v. Ibanez Jan. 7, effectively turning back the clock on modern mortgage finance to the 1800s. Rather than acknowledge the clear intention of its own Legislature and join the vast majority of states where "the mortgage follows the note," the court erred by following case law from the 19th century - cases that even then were slipping out of the mainstream law of secured transactions."

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Published In: Finance & Banking Updates, Residential Real Estate Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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