Pignolone v. Martino

This mortgage contains this clause: “ That the holder of this mortgage in any action to foreclose it shall be entitled to the appointment of a receiver.” Subdivision 10 of section 254 of the Real Property Law (as added by Laws of 1930, chap. 166) interprets that clause as meaning that a receiver may be appointed “ without notice and without regard to adequacy of any security of the debt.” It will be noted that the mortgage clause is silent on notice and adequacy of security. Section 975 of the Civil Practice Act requires that notice be given before a receiver may be appointed in foreclosure,…