Straus v. Wilsonian Investment Co.

This is an appeal from an order appointing a receiver in an action to foreclose a mortgage.

The following is a statement of facts, about which there is no controversy. The property against which foreclosure is sought is owned by appellant and operated by it as a hotel. Appellant acquired title from the mortgagors, George W. Wilson and Corinne Simpson Wilson, without assuming the mortgage. The Wilsons are both deceased, and their estates are hopelessly insolvent. The balance due on the mortgage is approximately $310,000, and the property is worth not to exceed $240,000.

At the time the…