Crosby v. Keilman

Waste that lessens the security of the mortgage debt authorizes the appointment of a receiver. But it is to be noted that although the affidavits presented support the findings of the trial judge that waste was committed and that such waste reduced the value of the mortgaged premises, there is no finding that it reduced such value in excess of the amount by which the mortgage debts had been reduced. Unless it did so reduce their value it may well be that the premises are better or more nearly adequate security for the debts than they would be had there been no waste and no reduction of the…