426. Mortgagee's leasing powers.

c.     Leasing Powers of the Mortgagee in Possession

426.     Mortgagee's leasing powers.

A mortgagee who is in possession1, or who has appointed a receiver of the rents and profits of the mortgaged property2, has the same statutory powers of leasing and accepting surrenders of leases as are enjoyed by a mortgagor in possession3. A lease by the mortgagee not made under the statutory power or under any express power contained in the mortgage deed or with the mortgagor's consent4 is not binding on the mortgagor after redemption5. Consequently, where