New York Life Ins. v. Simplex Products Corp.

The plaintiff’s claim is primarily based upon the contention that the rights of the mortgagor of real estate in a lease thereon, though executed subsequent to the mortgage, pass to the mortgagee upon its acquisition of the premises by purchase upon foreclosure, and are enforceable by it against the tenant. The question is thus presented in this case as to the effect of the foreclosure of such mortgage and the sale of the premises upon the rights' and obligations of the tenant of the premises in question under such lease, it not being a party to the foreclosure proceeding.

It must be conceded…