432. Amount charged when property let or unlet.

Where the mortgaged property is let at the time of the mortgagee taking possession, he is charged with the rents at the rate reserved1, if he could with due diligence have recovered them2. A mortgagee must use the usual means to recover the rents if they are likely to prove effectual3. When the property is not let, he must use due diligence to let it4, and, if it remains unlet through his default, he is charged with the rents which ought to have been obtained. The mortgagee is under no duty to let the property if a letting might

Popular documents