C. J. Netting Co. v. Sillman

Defendants Sillman gave the Chinese-American Realty Company a 50-year lease of certain land in the city of Detroit. The realty company erected a valuable building thereon. Plaintiff company obtained a judgment against the realty company, levied upon its leasehold interest and, upon execution sale thereof, became the purchaser. Defendant Peninsular State Bank holds a $75,000 mortgage on the building given by the lessee. The lease, among other things, provided:

“Said lessee shall not sell or assign this lease without the consent of the lessors in writing. * * :1; If this lease shall by operation…