481. Receiver's position.

A receiver appointed under the statutory power1 is deemed to be the mortgagor's agent2 and the mortgagor is solely responsible for his acts or defaults unless the mortgage3 deed otherwise provides4, but the agency may be modified by the terms of the mortgage deed5. A receiver who, although originally appointed by the mortgagee under the statutory power, is subsequently appointed by the court6, ceases to be the mortgagor's agent7.

The mortgagor's death does not operate as a revocation of the power to appoint a receiver8. The receiver may be permitted to sue in the name of the mortgagor's personal representatives

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