Interesting. Under a recent Florida case the assignment of a note and mortgage did not automatically operate to assign third-party negligence claims arising out of the note and mortgage: Llano Financing Group, LLC v. Yespy, Case No. 4D16-2007 (Fla. 4th DCA 2017). I think that's the right result. The alternative would result in some disastrous outcomes for unsuspecting note buyers. Even if the purchaser had recourse against the note seller, it would still have to be enforced. So a good result for FL note buyers here...
(hat tip to FL Bar Business Law Section)
Ben Bauer is a Cincinnati-based attorney who writes about things in law and life that he finds interesting.