Practice point: A plaintiff has standing where it is both the holder or assignee of
the subject mortgage and 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.
Student note: Where, as here, standing is put into issue by a defendant, the
plaintiff must prove its standing in order to be entitled to relief.
Case: Aurora Loan Servs., LLC v. Taylor, NY Slip Op 00625 (2d Dept. 2014).
Here is the decision.
Tomorrow's issue: Service of a claim on the Attorney General.
