Estate of Darryl Houston Price v. Lori Jean Kosmalski ( 2011 )

Order Michigan Supreme Court Lansing, Michigan November 2, 2011 Robert P. Young, Jr., Chief Justice 143123 Michael F. Cavanagh Marilyn Kelly Stephen J. Markman Estate of DARRYL HOUSTON PRICE. Diane M. Hathaway _________________________________________ Mary Beth Kelly Brian K. Zahra, NASTASSIA PRICE and ERIN DUFFY-PRICE, Justices Personal Representatives of the Estate of Darryl Houston Price, Plaintiffs, v SC: 143123 COA: 295212 Ingham CC: 06-000228-NZ LORI JEAN KOSMALSKI and TRADE DEVELOPMENT COMPANY, a/k/a TRADE WORLD COMPANY, INC., Defendants, and Estate of RUDAFORD R. STERRETT, JR., Defendant-Appellee, and THOMAS WOODS, Receiver, Appellee, and DART BANK, Intervening Defendant-Appellant. _________________________________________/ On order of the Court, the application for leave to appeal the April 12, 2011 judgment of the Court of Appeals is considered, and it is GRANTED. The parties shall address: (1) whether a mortgagee must affirmatively consent to the appointment of a receiver to be required to pay the receiver’s costs and fees; (2) whether the statutory right of first priority belonging to the holder of the recorded mortgage, MCL 600.3236, overrides the common-law rule that a receiver’s costs and fees are entitled to first priority; and (3) whether a mortgagee must actually benefit from the incurred expenses or whether a mortgagee can be required to pay for expenses that did not benefit it. The Michigan Association of Realtors, the Michigan Chamber of Commerce, and the Real Property Law Section of the State Bar of Michigan are invited to file briefs amicus curiae. Other persons or groups interested in the determination of the issues presented in this case may move the Court for permission to file briefs amicus curiae. I, Corbin R. Davis, Clerk of the Michigan Supreme Court, certify that the foregoing is a true and complete copy of the order entered at the direction of the Court. November 2, 2011 _________________________________________ p1026 Clerk