Key Points | DIAZ ANSELMO & ASSOCIATES CELEBRATES A BIG WIN ON THE ISSUE OF STANDING IN A LOST NOTE CASE

1. Last month the Second DCA reversed a judgment entered in favor of the mortgagors and against the lender, US Bank. S. Bank Tr., N.A. as trustee for LSF9 Master Participation Tr. v. Rodriguez, No. 2D2023-1694, 2024 WL 4862520, at *1 (Fla. 2d DCA Nov. 22, 2024)[i]. On appeal of the adverse judgment, the Second DCA determined that the trial court’s finding that US Bank failed to establish it was entitled to enforce Rodriguez’s lost note was erroneous and warranted reversal.
2. Specifically, the Second DCA found the trial court’s requirement that US Bank prove “the circumstances surrounding [the note’s] loss” to be a “loftier burden on U.S. Bank” than § 673.3091 required. The DCA explained that US Bank’s evidence of an unbroken chain of ownership was sufficient to satisfy the statutory requirements of § 673.3091.
3. Based on this finding, the DCA reversed the judgment for the defendants and remanded the matter for further proceedings. The mortgagors did not move for rehearing so the decision became final on December 9, 2024, and will be no longer appealable as of December 23, 2024.

[i] Subsequent references to or quotations from this case are to this citation.

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