Doyle v. Di Medio

No doubt can exist touching the obligation of a mortgagee in possession to allow a credit on his mortgage for rents and profits received by him, or in the absence of rents or profits to allow a credit for a fair amount as occupation value. The assertion of the duty of the mortgagee to allow that credit, whether the claim be made by a subsequent mortgagee or by the mortgagor, cannot be regarded, in strictness, as either an independent set-off or recoupment. The duty to allow the credit flows from the status of a mortgagee in possession, and is of the same nature as a payment on the mortgage;…