MORTGAGES - FORECLOSURE - RIGHT TO RECEIVER OF RENTS AND PROFITS

Authors

Abstract

The plaintiff held a large mortgage on apartment property. Upon default in the payment of principal, interest, and taxes a bill of foreclosure was filed against the mortgagor and her grantees who had taken subject to the mortgage. A clause in the mortgage authorized the appointment of a receiver to collect the rents and profits upon default. After hearing, the mortgagee was appointed receiver on the theory that non-payment of taxes constituted waste. Held, that the appointment was unauthorized. Union Guardian Trust Co. v. Rau, 255 Mich. 324, 238 N. W. 166 (1931).

Recommended Citation

MORTGAGES - FORECLOSURE - RIGHT TO RECEIVER OF RENTS AND PROFITS, 30 Mich. L. Rev. 975 (1932).
Available at: https://repository.law.umich.edu/mlr/vol30/iss6/25