In re People

The rents collected by the guaranty company under the assignment of rents obtained from the owner of the mortgaged premises were the property of the petitioner, the owner of the mortgage. (Matter of City Bank Farmers Trust Co., 149 *703Misc. 498, 506, 507; affd., 241 App. Div. 808.)* The guaranty was prepared by the guaranty company. The latter could have provided that any rents received prior to foreclosure, under an assignment of rents or otherwise, were to become its own property. It did make such a provision in respect to rents and profits received after acquisition of title to the mortgaged…