When any mortgage is foreclosed by the person entitled to receive the money secured thereby but to whom the legal title to the mortgaged premises has never been conveyed, the title to such premises shall, upon the expiration of the time limited for redemption and on failure of redemption, vest in him in the same manner and to the same extent as such title would have vested in the mortgagee if he had foreclosed, provided the person so foreclosing shall forthwith cause the decree of foreclosure to be recorded in the land records in the town in which the land lies.
(1949 Rev., S. 7198.)
Failure to produce mortgage, if it is admitted in the pleadings, held of no consequence. 81 C. 422. Under section, the holder of a promissory note is presumed to be the owner of the debt and, unless the presumption is rebutted, the holder may foreclose the mortgage. 303 C. 224.
Section provides avenue for holder of note to foreclose on property when mortgage has not been assigned to him. 75 CA 791. Statute codifies common law principle of long standing that “the mortgage follows the note”, pursuant to which only note's rightful owner has right to enforce the mortgage. 95 CA 390. Plaintiff had authority to bring foreclosure action where principals designated plaintiff as the payee and holder of a negotiable promissory note documenting defendants' indebtedness, thereby unequivocally manifesting intention to authorize plaintiff to exercise rights that law of negotiable instruments confers on holder of promissory note. 135 CA 58. Summary judgment properly granted where plaintiff demonstrated that the owner of the note authorized plaintiff to enforce the debt and initiate foreclosure proceedings on the owner's behalf. 157 CA 127. The dictates of this section and Sec. 49-33 must trump those in Sec. 47-10, and therefore a valid assignee of a mortgage note has standing to foreclose irrespective of whether that assignee records the assignment prior to instituting the action. 167 CA 183.
Notes of Decisions
RMS Residential Props., LLC v. Miller, 76 U.C.C. Rep. Serv. 2d (West) 295 (Conn. 2011).
· cites it 11× “The principal issue in this appeal is whether General Statutes § 49-17 1 confers standing on a holder of a promissory note to foreclose a mortgage.”
Prop. Asset Mgmt., Inc. v. Lazarte, 138 A.3d 290 (Conn. App. Ct. 2016).
· cites it 6× “With respect to the defense that the original plaintiff lacked standing to pursue foreclosure of the mortgage because a mortgage assignment to the original plaintiff had not been recorded at the time the foreclosure action was initiated, the original plaintiff asserted that it…”
Chase Home Fin., LLC v. Fequiere, 989 A.2d 606 (Conn. App. Ct. 2010).
· cites it 5× “The defendant claims, therefore, that the assignment of the mortgage by MERS to the plaintiff was ineffective and that, consequentially, the plaintiff lacks standing to pursue foreclosure of the property.”
CitiMortgage, Inc. v. Gaudiano, 68 A.3d 101 (Conn. App. Ct. 2013).
· cites it 10× “The plaintiff specifically relied on General Statutes § 49-17 in arguing that it possessed the requisite standing.”
Citibank, N.A. v. Stein, 199 A.3d 57 (Conn. App. Ct. 2018).
· cites it 6× “The common-law rule has been codified in General Statutes § 49-17, which provides: "When any mortgage is foreclosed by the person entitled to receive the money secured thereby but to whom the legal title to the mortgaged premises has never been conveyed, the title to such…”
Countrywide Home Loans Servicing, LP v. Diane Creed, 75 A.3d 38 (Conn. App. Ct. 2013).
· cites it 7× “228 -32, our Supreme Court held that, pursuant to General Statutes § 49-17, 8 the holder of a negotiable promissory *48 note secured by a mortgage has standing to bring a foreclosure action against the maker of the note, even prior to the assignment of the mortgage to the holder.”
Astoria Fed. Mortg. Corp. v. Genesis Ltd. P'ship, 143 A.3d 1121 (Conn. App. Ct. 2016).
· cites it 9× “" General Statutes § 49-17, entitled "Foreclosure by owner of debt without legal title," provides: "When any mortgage is foreclosed by the person entitled to receive the money secured thereby but to whom the legal title to the mortgaged premises has never been conveyed, the…”
Fleet Nat'l Bank v. Nazareth, 818 A.2d 69 (Conn. App. Ct. 2003).
· cites it 4× “Additionally, General Statutes § 49-17, 3 entitled “Foreclosure by owner of debt without legal title,” provides an avenue for the holder of the note to foreclose on the property when the mortgage has not been assigned to him.”
U.S. Bank Nat'l Assn. v. Eichten, 196 A.3d 328 (Conn. App. Ct. 2018).
· cites it 2× “"[A] holder of a note is presumed to be the owner of the debt, and unless the presumption is rebutted, may foreclose the mortgage under [ General Statutes § 49-17 ].... It [is] for the defendant to set up and prove the facts which limit or change the plaintiff's rights.”
GMAC Mortg., LLC v. Ford, 73 A.3d 742 (Conn. App. Ct. 2013).
· cites it 2× “See General Statutes § 49-17; RMS Residential Properties, LLC v.”
In Re Van Eck, 425 B.R. 54 (Bankr. D. Conn. 2010).
· cites it 3× “"[Connecticut] General Statutes § 49-17 permits the holder of a negotiable instrument that is secured by a mortgage to foreclose on the mortgage even when the mortgage has not yet been assigned to him.”
Wells Fargo Bank, N.A. v. Strong, 89 A.3d 392 (Conn. App. Ct. 2014).
· cites it 2× “In addition, General Statutes § 49-17 allows the holder of a note to foreclose on real property even if the mortgage has not been assigned to him.”
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