Joslin Trap – Lost Note Affidavit - UCC

Who Paper Tangible

Owns Promissory Note
Vaulted or Destroyed
What? Security Instrument
Deed of Trust-Mortgage-Security Deed
MERS as nominee

Promissory Note Obligee 1

Lost Note Registry
Indebtedness Sell Owner/Holder
Affidavit Obligor to Obligee 1 Update
Holder in Due Course

Negotiation 1 Obligee 1 ‐ Seller

Negotiation
incomplete
Obligee 1 MERS
To if Note
Obligee 2 remains Registry
Obligee 2 ‐ Buyer
IN Blank from “IN BLANK”
Obligee “1”

Registry
Transfer Promissory Note Buy
Update
Obligee 2
Control Indebtedness
Registry Owner/Holder
Transferable Sell Holder in Due Course
Update
Record Negotiation 2
Negotiation Obligee 2 ‐ Seller
incomplete
Obligee 2
if Note
MERS
To
Transfer Obligee 3 remains Registry
Rights IN Blank from “IN BLANK”
Obligee “1” Obligee 3 ‐ Buyer
In A
Paper
Tangible
Negotiation Promissory Note Registry
Indebtedness
Buy
Update
Obligee 2
Registry Owner/Holder
Sell Holder in Due Course
Negotiation 3 Update
Negotiation
incomplete Obligee 3 ‐ Seller
Obligee 3
To if Note MERS
Obligee 4 remains
IN Blank from “IN BLANK”
Registry
Obligee “1”
Obligee 4 ‐ Buyer

Promissory Note
Registry
Indebtedness
Buy
Update
Obligee 2
Owner/Holder
Holder in Due Course
Legal Proceedings
(If vaulted)Original Paper Documents
Retrieved From Original Custodian
Transferred to Law Firm
(If Destroyed) Lost Note Affidavit
Printout Copy of Note From Digital File

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