Ready State Bank v. Meiselman

SCHWARTZ, Chief Judge.

Ready State Bank held a mortgage on a long-term leasehold granted to the Appels, the tenants, by the fee-owner landlord, Meiselman. Because of numerous defaults, the lease was canceled below in a ruling about which the bank does not complain. It does contend, however, in a case number 98-2201, that the trial court erred in failing to grant its application to succeed to the contractual rights of the tenants under a so called “pickup” lease, see 1 *1216Milton R. Friedman, Friedman on Leases § 7.801, at 451 (4th ed. 1997), as provided by the parties’ mutual agreement.1 We…