A plaintiff has standing in a mortgage foreclosure action when it is the holder or assignee of the underlying note at the time the action is commenced. Either a written assignment of the underlying note or the physical delivery of the note prior to the commencement of the foreclosure action is sufficient to transfer the obligation, and the mortgage passes with the debt as an inseparable incident.
Deutsche Bank Natl. Trust Co. v. Julius, NY Slip Op 03291 (2d Dep't May 27, 2026)
