568. Appointment of receiver on behalf of subsequent mortgagee or persons equitably interested.

568.     Appointment of receiver on behalf of subsequent mortgagee or persons equitably interested.

The appointment of a receiver at the instance of a subsequent incumbrancer is without prejudice to the rights of prior incumbrancers1. Therefore, if a prior mortgagee whose existence is known is not in possession, the appointment is made subject to his right to take possession2, and, accordingly, the first mortgagee can take possession without the permission of the court3, although formerly it was considered that permission was required4, and application for permission was usually made5. Permission is, however, necessary where there has been no