§ 561.18

Ewert v. Anderson · 1984 1 citation

The mortgagor’s right to possession is limited by Minn. Stat. § 561.18 (1982), which allows the court to restrain the commission of waste on the property. Waste by a mortgagor during the redemption period will be enjoined when it “may so impair the value of the property as to render it insufficient, or of doubtful sufficiency, as security for the debt.” Gardner v. W.M. Prindle & Co., 185 Minn. 147, 152, 240 N.W. 351, 353 (1932). See also Woodmen of World Life Insurance Society, 294 Minn, at 131, 200 N.W .2d at 184 (the mort gagee may be granted the extraordinary remedy of a receivership sequestering profits only to prevent waste or otherwise to protect and preserve the mortgage security). Thus, even though mortgagees may be allowed possession of the property during redemption, profits received must be applied to the mortgage debt.