339. Mortgagor's right to possession until demand made.

(2)     Right to Possession and Receipt of Rents and Profits

339.     Mortgagor's right to possession until demand made.

When a legal mortgage1 is executed, the mortgagee has, or is in the same position as if he had, the mortgaged property in possession; and in the absence of express stipulation to the contrary he is entitled to immediate possession or receipt of the rents and profits2. However, until the mortgagee demands possession3, or enters into receipt of the rents and profits of the mortgaged property, it is in accordance with the nature of the transaction that