Franzen v. G. R. Kinney Co.

The defendant contends that the assignment of the lease to the mortgagee as collateral security for the mortgage debt added nothing whatever to the plaintiff’s rights to the rents of the premises for the reason that the assignment of the rents as collateral security makes the assignment in law nothing but a mortgage of the rents, and the only way in which a mortgagee can secure payment of rents to apply upon the mortgage debt is through an action to foreclose the mortgage and the appointment of a receiver therein. It is claimed that from this it follows that the landlord is entitled to the…