James Cavazos bought a Mercedes S550 from Mercedes-Benz of Sugar Land with funds that he borrowed from JPMorgan Chase Bank. Chase perfected a security interest in the car. Cavazos forged a release of the debt and obtained a certified copy of the title. In reliance on that copy, NXCESS Motor Cars, Inc., bought the car and sold it to Xavier Valeri, who paid with a loan from U.S. Bank. The bank filed a financing statement to perfect its security interest. Later, Cavazos’s forgery was discovered. Who has the right to possess the car? Explain. [NXCESS Motor Cars, Inc. v. JPMorgan Chase Bank, N.A., 317 S.W.3d 462 (Tex.App.—Houston 2010)]
