Opinion
Gen. No. 40,912. (Abstract of Decision.)
Opinion filed May 28, 1940
FORECLOSURE OF MORTGAGES, § 244 — receiver's certificate, priority. Where partial foreclosure proceedings were being had on a trust deed, and a receiver's certificate was issued to pay for repairs to the property, the order providing that such certificate should be a prior lien upon the rents, issues and profits received by the receiver for a period of two years, such certificate could not, after the expiration of the two years and after complete foreclosure and acquisition of property by defendant, be asserted to be a lien on the title to the property, the receivership never having been insolvent and plaintiff never having asserted his claim against the receiver nor against the proceeds of the complete foreclosure sale.
See Callaghan's Illinois Digest, same topic and section number.
Appeal from Circuit Court of Cook county; Hon. STANLEY H. KLARKOWSKI, presiding.
Reversed and cause remanded with directions. Heard in second division, first district, this court at October term, 1939.
Rathje, Hinckley, Barnard Kulp, for appellant;
Joseph J. Sullivan, Jr., of counsel;
Victor Neumark and C.A. Caplow, for appellee.
"Not to be published in full." Opinion filed May 28, 1940.