An encumbrance [lien, Deed of Trust, Mortgage affecting real property] is under
governance of local laws of jurisdiction [states real property laws], many of the
banks have bowed to belief that UCC 9 which governs security interests applies to
real property of the state. As summarized, A tangible encumbrance is governed by
local laws of a states real property law whereas the intangible security interest
under governance of UCC 9 is secured by the personal property of the paper
tangible whereas the tangible legal rights were not and could not have been
negotiated/assigned/transferred/conveyed at a states level in a timely manner as
prescribed in UCC 3-203(d) unless one wants to risk that a instrument in all other
areas of instrument law can be sold for less than full value. In addition, claiming an
endorsement without naming a payee as intentioned to transfer rights to a
subsequent party, i.e. "Pay to Order of ______" is an incomplete special
endorsement, Reference UCC 3-115 as does not constitute the creation of a bearer
instrument [case law at many federal and state level will support], additionally
where the subsequent Payee is unidentified, then no party can be an agent of an
unidentified principle. Maybe many with oversight and government sees not the
errors, but millions around the planet see and also see a cover up to allow
Monetary Policy to override Civil Policy, consider USC 1983, violation of civil

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