Federal Land Bank of Omaha v. Lower

LAVORATO, Justice.

The only issue properly presented for our further review here is whether a mortgagor must account to a mortgagee’s receiver for rent the mortgagor received on encumbered land during the period between the entry of a foreclosure decree and the request for appointment of a receiver.

John V. and Diana K. Lower, the mortgagors and defendants in this case, contend that a mortgage’s lien provisions take effect only after the mortgagee has both commenced foreclosure and requested the appointment of a receiver. The Federal Land Bank of Omaha, the mortgagee and plaintiff, argues that…