Union Guardian Trust Co. v. Harry & Max Dunitz, Inc.

While suit in equity was in progress to foreclose a mortgage containing assignment of rentals on a 60-family apartment building, upon which $242,000 was due, and $18,186.56 in unpaid taxes, defendant corporation, herein styled defendant, by quitclaim deed, obtained title to the premises without assuming and agreeing to pay the mortgage, then intervened and invoked the moratorium statute (Act No. 98, Pub. Acts 1933, as amended by Act No. 20, Pub. Acts 1934 [1st Ex., Sess.]), and entry of decree of foreclosure was stayed upon payment of the rentals to the plaintiff, less a collection charge of…