Nichols v. Registrar of San Juan
Nichols v. Registrar of San Juan
Opinion of the Court
delivered the opinion of the court.
Norval P. Nichols, against whose property a mortgage was recorded, is seeking to cancel the mortgage. The debtor and his wife originally made three promissory notes secured by the said mortgage. The notes were made in favor of E. L. Mudge, who endorsed them to the American Colonial Bank in whose possession they were paid. The objection to the cancellation is that E. L. Mudge is married and that the consent of Mrs. Mudge to the endorsement does not appear. The registrar invokes sections 159, 1328, and other sections of the Civil Code.
Section 153 of the Mortgage Law provides:
“Sec. 153. — In a mortgage constituted to secure obligations transferable by indorsement or documents payable to bearer, when the mortgage interest is conveyed or assigned, it shall be understood that the latter is conveyed, .together with the obligation or document, without the necessity of the debtor being advised thereof or the transfer being recorded in the registry.”
This section plainly makes unnecessary the record of the
The note must be reversed and the cancellation made.
Reversed.
Case-law data current through December 31, 2025. Source: CourtListener bulk data.