564. Object of receiver's appointment.

(6)     Appointment of Receiver by the Court

564.     Object of receiver's appointment.

Where there has been a breach of the mortgagor's obligations, or where, without such actual breach, the security is in jeopardy1, the mortgagee may obtain an order for the appointment of a receiver by the court, provided the circumstances render it just and convenient2. However, because mortgagees already have statutory powers to appoint a receiver3, it is not usually necessary for a mortgagee to apply to the court for such an order4.

It is sufficient that interest is in arrear5 even though principal is