First Trust Joint Stock Land Bank v. Conway

— On September 21, 1931, appellant commenced foreclosure proceedings, asking a receivership for collection of rents during the redemption period. The mortgage was for $20,000. Judgment of foreclosure was entered on November 17, 1931, and the receivership application was continued until after the sale. The property sold for $2,500 less than the judgment, leaving a deficiency judgment of $2,500.

Appellees offered evidence to show that, prior to the commencement of the foreclosure proceedings, the main defendant, James R. Conway, mortgagor and owner, leased the property to two of his sons, on or…