Legal Question in Real Estate Law in Florida
Do you need a Note in order to have a mortgage? I have a mortage listed in public records and there is not a Note attached to it. There is only a financial agreement.
Asked on 6/20/12, 11:56 am
3 Answers from Attorneys
David Slater
David P. Slater, Esq.
Yes. Without a promissory note, there is nothing to pay.
Answered on 6/20/12, 12:03 pm
The Note is not usually recorded. It is the IOU. The Mortgage is actually a Mortgage deed which secures the unrecorded Note to the realty.
Answered on 6/20/12, 12:03 pm
Philip Duvalsaint
Philip A. Duvalsaint, PLLC
The note is probably held by your mortgage servicer.
Answered on 6/21/12, 8:52 am
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