Real Estate-Land Title & Trust Co. v. Homer Building & Loan Ass'n

Opinion by

Rhodes, J.,

This case involves the relationship between an owner-lessor and a mortgagee in possession. Plaintiffs held a mortgage on premises known as the Dakota Garage, at 59th and Irving Streets, Philadelphia. Defendant held a second mortgage on the same property, and by foreclosure proceedings became the owner thereof. Plaintiffs’ mortgage in the sum of $80,000 had been created on October 21,1920. On November 12, 1931, defendant, the real and registered owner of the premises, which were then subject to plaintiffs’ mortgage, leased the same to one Abraham Klivansky; the lease was…