Practice point: A plaintiff has standing to commence a foreclosure action when it is either the holder or the assignee of the underlying note at the time the action is commenced. Either a written assignment of the underlying note or the physical delivery of the note prior to the commencement of the foreclosure action is sufficient to transfer the obligation.
Student note: Where the issue of standing is raised by a defendant, a plaintiff must prove its standing in order to be entitled to relief. However, on a defendant's motion, the defendant must establish, prima facie, the plaintiff's lack of standing as a matter of law.
Case: Bank of N.Y. Mellon v. Green, NY Slip Op 07460 (2d Dept. 2015)
Here is the decision.
Monday's issue: A motion for summary judgment in lieu of complaint, pursuant to CPLR 3213.