^nth is seen of value in the United States Housing market, other global areas affected, this writer will not comment upon. Attention is directed to a document(s) commonly titled Assignment of Mortgage, Corporate Assignment of Mortgage. Within verbiage of these document(s) we routinely see the term for value, with this application of wording it is clearly identifiable that an intent existed to allege a transfer of rights to real property. For a transfer of rights to real property value must have been given and such evidence must be in tangible writing to comply with the Statues of Fraud. Such requirement to be in writing comports to 15 USC 7003 Subsection (a) (3): (a) Excepted requirements (3) the Uniform Commercial Code, as in effect in any State, other than sections 1107 and 1206 and Articles 2 and 2A.
Where such intent is noted upon an alleged transfer of a security right to claim title to real property should be reflected as the same identity found as subsequent Payee(s) upon the Promissory Note executed by a tangible obligor. In such intent to transfer a personal property security right from an Account Debtor to an Intangible Obligee being a transferable record under governance of Uniform Commercial Code Article 9 is in compliance. However when the overlaying personal property security interest is assigned in accordance to UCC 9, the underlying security instrument requires compliance in accordance to local laws of jurisdiction. Uniform Commercial Code 9-109(d) clearly excludes UCC 9s authority to govern real property security instruments. Whereas the Promissory Note identifies not a party with rights to the real property security instrument or to the Promissory Note should not be confused with the registry identification of who has rights to the transferable record and the personal property securing. Personal Property Securing the transferable record to this writer mean who has exclusive right to the paper writing, not to what the paper writing represents as such representation is under governance of a states real property law. Could be true that is the security instrument has not expired by operation of law and not filed of record to perfect could fall to be junior claim to any record action affecting the real property and rights to title.