Assignments

An assignment is the transfer of a right or benefit from one party to another party. Assignments can occur in contract or real estate contexts.  A contract assignment refers to a situation where one party to... more +
An assignment is the transfer of a right or benefit from one party to another party. Assignments can occur in contract or real estate contexts.  A contract assignment refers to a situation where one party to a contract transfers his/her rights or benefits under the contract to a third party. In a real estate assignment, an interest holder transfers his/her interest in a particular parcel to another party. less -
News & Analysis as of

Florida Appellate Court Rejects Bid to Curb Insureds’ Assignments to Contractors

Many property insurance policies contain terms that prohibit assignment, but Florida law has long deemed those terms inoperative once a loss has occurred. E.g., W. Fla. Grocery Co. v. Teutonia Fire Ins. Co., 74 Fla. 220...more

New LLC Is Not Delivered By Sale Membership Interests

Readers of this blog should be well aware of California’s general antipathy to covenants not to compete. See links below. Other jurisdictions, however, are less averse. Assuming that a covenant not to compete is...more

ACOs: The Next Generation of Coordination Care

An Overview of the Medicare Shared Savings Program/Accountable Care Organization Final Rules - The Centers for Medicare and Medicaid Services (CMS) recently released a final rule (Final Rule) that makes changes to the...more

New York’s Highest Court Clarifies Judicial Foreclosure Standing Requirements

The New York Court of Appeals has clarified the requirements for showing standing to pursue judicial foreclosures in New York state courts after borrowers default on payment obligations, in a ruling that could resolve...more

Colorado Supreme Court: Indefinite, Future Assignment of Insurance Proceeds Unenforceable Against Insurer

It is not uncommon for injured persons to assign their rights to insurance proceeds to a third party, and the enforceability of those assignments has been the subject of frequent litigation around the country. In the most...more

Note versus Mortgage: Who leads the dance?

Earlier this month, Florida’s Fourth District Court of Appeal released an opinion seemingly designed to serve as a primer on perfecting a security interest in a promissory note secured by a mortgage. The analysis is found in...more

Considerations and Consequences of a Bankruptcy Filing in the Oil and Gas Industry

A Chapter 11 bankruptcy filing of an oil and gas company will likely have broad implications for a wide range of parties. Certain pervasive agreements in today’s oil and gas industry generate substantial, high-dollar...more

Recent Nevada Supreme Court Opinions Impact Deficiency Actions

The Nevada Supreme Court recently issued two significant opinions that impact deficiency judgment actions in Nevada, and is preparing to issue a third. In Munoz v. Branch Banking and Trust Company, Inc., the Court held that...more

Borrowers Cannot Challenge Mortgage Assignments, Says Nebraska Joining Other States

Attacking sufficiency, accuracy, or validity of assignments of mortgages and deeds of trust has been among the most common strategies employed by borrowers to challenge foreclosures. Allegations regarding the status of MERS,...more

Is Your ORRI What You Think It Is?

Bankruptcy Court reinforces importance of parties’ intent in determining the nature of overriding royalty interests under state law. On April 2, 2015, the United States Bankruptcy Court for the District of Delaware...more

Words Landlords Use Every Day: Standing and Privity

“Standing” is the right to bring a case to court. “Privity” is a legal relationship. A landlord and tenant may have (or may be in) privity of contract because they both agree to certain contractual terms in a lease....more

Court Of Chancery Explains Effect Of Spin-Off

This is an interesting decision because it deals with what is the effect of a spin-off of corporate assets on existing contracts that apply to the parties’ “transferees, successors and assigns.” ...more

Use of Prior Servicer’s Records at Trial Depends on Proper Foundation

Mortgage servicing duties are routinely transferred, requiring lenders, servicers and financial institutions to rely on the prior servicer’s business records to prove their cases against borrowers – specifically, to prove the...more

UDAAP Council Weekly UDAAP Standards Report - 4/1/2015

Every week, courts around the United States issue decisions addressing aspects of civil UDAAP claims. In an effort to illuminate the UDAAP standards, below is a sampling of some of this week’s UDAAP decisions on the meaning...more

STOLI Schemers Must Make Good on Damages Caused

Followers of stranger-originated life insurance (STOLI) issues have likely read over the last few years about Ohio National Life Assurance Corp. v. Davis and the favorable results the insurer obtained in its action against...more

Bad Faith Sentinel - March 2015

In This Issue: - District of Colorado Sinks Insurer’s Motion for Summary Judgment on Bad Faith Claim Where Insurer Allegedly Failed To Timely Investigate Available Coverage for Boating Accident - Eastern...more

Defeating Another Challenge to the Mortgage Electronic Registration System

Since the mortgage crisis began several years ago, the Mortgage Electronic Registration System (“MERS”) has faced numerous legal attacks relating to foreclosures, assignments and what interest MERS holds in a deed of trust or...more

All Consuming - Legal Updates for Consumer Finance Professionals

In This Issue: - Supreme Court Provides TILA Home Loan Rescission Guidance - West Virginia Legislature Proposes Changes to the WVCCPA - Defeating Another Challenge to the Mortgage Electronic Registration...more

Lost Mortgage Notes: Those Pesky State UCC Variations

Desmond v Raymond C. Green, Inc. (In re Harborhouse of Gloucester, LLC), 523 B.R. 749 (1st Cir. BAP 2014) – A Chapter 7 trustee objected to the proof of claim filed by a downstream assignee of a lost mortgage note. ...more

Swap Agreement Safe Harbors at Risk in Latest Lehman Dispute

On May 30, 2014, hedge fund Moore Capital (Moore) brought suit against the Lehman Brothers bankruptcy estate (Lehman) in the Southern District of New York bankruptcy court, seeking a declaratory judgment that it acted...more

11th Circuit Certifies Insurable Interest Questions in Pruco Cases to the Florida Supreme Court

On February 27, 2015, the United States Court of Appeals for the Eleventh Circuit certified two important questions of Florida insurable interest law to the Florida Supreme Court. ...more

Mortgage Notes: Those Nasty Assignments!

In re Baber, 523 B.R. 156 (Bankr. E.D. Ark. 2014) – The debtors objected to a proof of claim filed on behalf of a mortgagee based on issues arising from assignment of the mortgage note by the lender that originated the...more

Western District of Washington: Insured That Violated Duties of Notice and Cooperation Could Not Make Out Claim for Bad Faith...

Granite State Ins. Co. v. Integrity Structures, LLC, No. C14-5085BHS, 2015 WL 136006 (W.D. Wash. Jan. 9, 2015). The U.S. District Court for the Western District of Washington held that an insurer did not act in bad faith...more

Deed of Trust Assignment without Debt Transfer Does Not Trigger TILA Notification Obligation, Maryland District Court Rules

The mere assignment of a deed of trust without a transfer of the underlying mortgage debt does not trigger a lender's obligation under the Truth in Lending Act (TILA) to notify the borrower of the assignment, according to a...more

What are you implying?

Case law teaches contractors a valuable lesson when dealing with ownership of copyright. It is essential to deal with each party’s position, typically through a written copyright licence, to avoid pitfalls further down the...more

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