This is a great case to cite and supports my view that when the Note and mortgage get transferred
to different entities, one has a cause of action for Quiet Title.
As stated in the decision, a mortgage without a Note is a nullity. A note without a mortgage is
unsecured and can not be foreclosed. (However, the Note holder could sue, get a judgment, and
record a certified copy of it in O.R., which would cause it to be secured).
As I understand it, Texas is a "non judicial" foreclosure State, which uses mainly "Trust Deeds"
instead of "mortgages" as in Florida. Both States are similar in that they have the unlimited Homestead
exemption, which as proven by former Gouvenor John Connally, can be used to save the "ranch" by
filing Ch 7 after a judgment is entered, but before a certified copy of it is recorded. He listed the
judgment as unsecured and the ranch as homesteaded. The Trustee discharged the judgment and
"abandoned" the ranch, ie returned it to him, minus his cattle, his gun collection, his wardrobe and
everything else he had, but at least he wasn't "homeless". He had sharp lawyers working his case.