Elements "who, what, when, where and how" and "rights"
Within securitization documents it is routinely found that the Mortgage to Secure to the Mortgage Note is delivered to a subsequent purchaser. Who was responsible for delivery, what is the recordable form mortgage assignment, who received the mortgage assignment, "why" was it not submitted for recordation, where was the unrecorded instrument (collateral file), "how is the mortgage legally enforceable.
Apply the elements to what was sold and purchased as regards to a tangible mortgage obligation (tangible obligors obligation with rights to real property) and a intangible mortgage obligation (intangible account debtors mortgage obligation with rights to personal property (the paper instrument being the tangible mortgage note and the tangible security instrument [mortgage]).
Rights to extend from an intangible obligee's possession of an intangible personal property (the paper instruments) pledged mortgaged by account debtor to tangible obligor's real property would require compliance with all applicable law(s) as denoted in the mortgage of real property contract.
Question present(s), has opposing party withheld evidence to show a party is without rights, (unrecorded instrument which maybe valid between the intangible parties as personal property but does such legally bind the tangible obligor to be obligated to the intangible obligee?) What a stretch of reach!!!!