424. Mortgagee's power to carry on business.

b.     Conduct of Business

424.     Mortgagee's power to carry on business.

Where the mortgage security includes a business carried on upon the mortgaged premises1, the mortgagee on entering is entitled to carry on the business for a reasonable time with a view to sale2. The mortgagee would, however, normally appoint a receiver to carry on the business3 or apply to the court for an appointment of a receiver and manager4.