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ARNOLD v. DMR FINANCIAL SERVICES

Docket No. 99689, (Calendar No. 9).

448 Mich. 671 (1995)

532 N.W.2d 852

ARNOLD v. DMR FINANCIAL SERVICES, INC.

Supreme Court of Michigan.

Decided May 31, 1995.

Attorney(s) appearing for the Case

Gary J. Canjar for the plaintiff.

Clark, Klein & Beaumont, P.L.C. (by William B. Dunn, David E. Nims, III, and Rachelle G. Silberberg), for the defendant.

Amici Curiae:

May, Simpson & Strote (by Thomas C. Simpson and Marilynn K. Arnold) for Michigan Land Title Association.

Honigman, Miller, Schwartz & Cohn (by Lawrence D. McLaughlin) for the Real Property Law Section of the State Bar of Michigan.

AFTER REMAND

WEAVER, J.

We granted leave in this case to address whether an unrecorded security assignment of a mortgage prevents the mortgagee of record from foreclosing by advertisement. We conclude that it does not, and hold that only the record holder of the mortgage has the power to foreclose and that the validity of the foreclosure is not affected by any unrecorded assignment of interest held for security.

On October 30, 1985, Donald and Dawn...

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