Bank of Edwardsville v. J.D. Monarch Development Co. (In Re J.D. Monarch Development Co.)

OPINION

KENNETH J. MEYERS, Bankruptcy Judge.

The Bank of Edwardsville (“Bank”), mortgagee of the debtor’s real estate, seeks an accounting and turnover of rents collected from the mortgaged real estate during the course of the debtor’s bankruptcy case. The Bank contends that it is entitled to the rents under assignment of rent provisions contained in its mortgages and that recording of these mortgages gave it a perfected lien on the rents generated by the property. The trustee objects that the rents collected after bankruptcy belong to the debtor as property of his bankruptcy estate because the…