Citation Numbers: 40 Misc. 2d 455, 243 N.Y.S.2d 447, 1963 N.Y. Misc. LEXIS 1628
Judges: Lynde
Filed Date: 9/17/1963
Status: Precedential
Modified Date: 10/19/2024
In this action for trespass, plaintiff has applied for a temporary injunction enjoining and restraining the defendants from continuing to occupy the property and from performing allegedly continuous acts of waste and damage. The mortgagee insists that under section 13 of the mortgage it has the right to enter the premises for the purpose of letting the same, regardless of the facts that there was no prior rental in effect, that there was no tenant on the premises and that the premises were vacant at the time that it acted. Under the said section, the mortgagor assigned to the mortgagee the rents, issues and profits of the premises and as further security for the payment of the underlying indebtedness, granted to the mortgagee “ the right to enter upon the premises for the purpose of collecting the same and to let the premises or any part thereof.”
The right of the owner of the fee cannot be cut off prior to a judgment of foreclosure and sale unless there is a clear right to do so under the mortgage. The language of this section of the mortgage, referring, as it does, to a right of entry and a right to lease given as collateral security to an assignment of rents and providing, under certain circumstances, for a waiver of some, if not all, of said rights, is far from a grant of the express and unequivocal consent to take possession required by law.
It is the legislative policy of this State that “ A mortgage is merely an interest by way of security for debt, and a mortgagee has no title, but only a lien upon the land.” (Matter of City of New York [Braddock Ave.], 251 App. Div. 669, 672, affd. 278 N. Y. 163.) In the circumstances of this case, there is no reason to deviate from the policy laid down by the Legislature and consistently followed by the courts.