Elgin City Banking Co. v. Hancock

4. Mortgages, § 546*—who entitled to rents collected by receiver in foreclosure proceedings. Rents collected by a receiver and not needed to pay any deficiency after foreclosure sale belong exclusively to the owner of the equity of redemption though the mortgage or trust deed contains a provision that the rents or income accruing during the period of redemption shall go to the person entitled to a deed under the certificate of sale. 5. Mortgages, § 546*—when receiver cannot purchase outstanding title and claim rents. In a proceeding to foreclose a trust deed, a person occupying the position…