Negotiable Instruments (UCC Article 3) 

Idaho Code > Title 28 > Chapter 3 > Part 2 > § 28-3-207. Reacquisition

     Reacquisition of an instrument occurs if it is transferred to a former holder, by negotiation or otherwise. A former holder who reacquires the instrument may cancel indorsements made after the reacquirer first became a holder of the instrument. If the cancellation causes the instrument to be payable to the reacquirer or to bearer, the reacquirer may negotiate the instrument. An indorser whose indorsement is canceled is discharged, and the discharge is effective against any subsequent holder.

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Questions & Answers: Negotiable Instruments (UCC Article 3)

does this apply to real estate foreclosure and the promissoty note?...

how do you over come a person that is in wrongful possession of the note and is trying to enforce it( foreclosure) ...

I have the same two questions above on foreclosure and note what if the mortgage note was never registered in the UCC court file by the original lender. Is this a fraud because th...

See also:

Idaho Code Title 28 > Chapter 3 - Uniform Commercial Code -- Negotiable Instruments

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