Prime Financial Services LLC v. Vinton

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that “Article 9 governed the creation of the security interests at issue and that an assignment of mortgage can give no greater rights to the assignee than it has in the note underlying the mortgage.”
• holding that “Article 9 governed the creation of the security interests at issue and that an assignment of mortgage can give no greater rights to the assignee than it has in the note underlying the mortgage.”
• explaining that a note is personal property that may be transferred or pledged to third parties
• explaining that “[u]nder Michigan law, a mortgage is not an interest in land,” but instead constitutes “a lien on real property intended to secure performance or payment of an obligation”
• stating that the defendant could be liable for aiding and abetting conversion
• stating that, as between two secured creditors, the junior creditor could not—as a matter of law—establish conversion of the collateral at issue because Article 9 of Michigan’s Uniform Commercial Code authorized the senior creditor’s actions with regard to the collateral

Source: CourtListener parenthetical corpus (CC0).