Shrewsbury And Its Impact On Delaware Foreclosure Actions

Law360, New York (May 9, 2017, 10:42 AM EDT) -- In J.M. Shrewsbury v. Bank of New York Mellon, (Del. Apr. 17, 2017), the Supreme Court of Delaware, sitting en banc, issued a decision of interest to lenders seeking to foreclose on real property in the state of Delaware. In reversing the order of the trial court granting summary judgment in favor of the foreclosing bank, the majority held that a mortgagee must be entitled to enforce the underlying promissory note in order to foreclose on the mortgage security. While this holding affects lenders’ pursuit of...
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