Printable Format58-2301. Lien jurisdiction; possession in mortgagor. In the absence of stipulations to the contrary, the mortgagor of real property may retain the possession thereof.
History: G.S. 1868, ch. 68, ยง 1; October 31; R.S. 1923, 67-301.
Law Review and Bar Journal References:
"The Mortgagee's Interest in Rents: Policy and Proposals," Patrick A. Randolph, Jr., 29 K.L.R. 1, 8 (1980).
CASE ANNOTATIONS
1. Mortgagee has no right of possession even after condition broken. Seckler v. Delfs, 25 K. 159, 165.
2. Mortgagor has legal right to retain possession of the land; ejectment will not lie against a mortgagee in possession. Kelso v. Norton, 65 K. 778, 791, 70 P. 896.
3. Purchaser at foreclosure sale subrogated to rights of mortgagee. Mortgage Co. v. Gray, 68 K. 100, 102, 74 P. 614.
4. Mortgagee in possession not subject to ejectment until debt paid. Stouffer v. Harlan, 68 K. 135, 146, 74 P. 610.
5. Mortgagee in possession may compel redemption, or have right barred. Henthorn v. Security Co., 70 K. 808, 810, 811, 79 P. 653.
6. Immediate possession and occupancy authorized. Hall v. Goldsworthy, 136 K. 247, 249, 14 P.2d 659.
7. Mentioned in discussing "property of another" within meaning of 21-581. State v. Crosby, 182 K. 677, 682, 683, 324 P.2d 197.
8. Kansas is lien theory mortgage state; mortgage attaches as liens from time of recording. In re Stanley Station Associates, L.P., 139 B.R. 990 (1992).
9. Bona fide land purchaser has priority over prior unrecorded conveyance. In Re Southworth, 22 B.R. 376, 377, 379 (1982).
10. Trustee as bona fide purchaser had priority over creditor's released mortgage and later unrecorded mortgage. In re Southern, 32 B.R. 761, 762, 766 (1983).
11. The effect failure to record assignment of mortgage had on rights of the assignee in relation to junior mortgagees discussed. Bank Western v. Henderson, 255 K. 343, 350, 874 P.2d 632 (1994).