December 6, 2012
Minnesota Supreme Court Holds that MERS is not Requred to Record Assignment of Mortgage in Order to Commence Foreclosure
In Jackson v. MERS, 770 N.W.2d 487 (MN S. Ct., 2009), mortgagors brought actions against MERS to enjoin the non-judicial mortgage foreclosure sales on grounds that MERS failed to comply with Minnesota’s statutory requirement to record all assignments of the mortgage and to give notice of each assignee of the mortgage. The court held that MERS was not required to record the assignment of the underlying indebtedness in order to commence foreclosure under Minnesota Statute §§580.02 and 580.04.
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