The wrong Trust is on the note endorsement...
I signed a promissory note to the ABC Trust, making payments to the trustee of said trust. A few years later, the trustee got his own loan using the interest in my note as collateral BUT he gave the lender a copy of my note that indicated that I was to pay the XYZ Trust (his own).
He also gave the lender a Note Endorsement ''to be attached to the ORIGINAL Note'' & ''that the XYZ Trust assigns my note''...in case of default. His lender is coming after me for payment as lein holder. The trustee knew he couldn't pay his loan.
The ORIGINAL note (the one I signed) says I'm to ''pay the trustee of the ABC Trust''
Can the note endorsement be invalidated - he wrote the XYZ Trust and he gave the lender a falsified copy of my note?
1 Answer from Attorneys
Re: The wrong Trust is on the note endorsement...
Yes. Based on your facts, the trustee's note is fraud and it is not enforceable against you.