The Schwartzwald case held that a Plaintiff in a foreclosure case that does not hold the note or mortgage at the time it files the complaint lacks standing, and the court therefore lacks jurisdiction.  The big question that this left open was: what effect does that have on all of the faulty foreclosures that have already been completed?  We may now have some insight into this thanks to a case that was reversed and remanded just last month, Washington Mutual Bank v. Wallace.

This site is dedicated to title issues, and particularly title searching.  Because I believe it is important to discuss issues that come up in the course of a title search, I have posted some hypothetical questions in the past that were inspired by actual searches.  We have discussed recording statutes and survivorship tenancy.  Most recently, I posted a hypothetical on life estates in the forums. 

This hypothetical is based on a fact pattern from an actual title search.  My first thought was "the client will certainly call me with questions on this one," so I thought it would make for a good discussion here.