Freedman's Savings & Trust Co. v. Shepherd,
127 U.S. 494 (1888)

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U.S. Supreme Court

Freedman's Savings & Trust Co. v. Shepherd, 127 U.S. 494 (1888)

Freedman's Savings and Trust Company v. Shepherd

Nos. 230, 256

Argued April 17-18, 1888

Decided April 30, 1888

127 U.S. 494




When a mortgage contains no provision for the payment of rents and profits to the mortgagee while the mortgagor remains in possession, the mortgagee is not entitled, as against the owner of the equity of redemption, to the rents and profits of the mortgaged premises until he takes actual possession or until possession is taken in his behalf, even though the income may be expressly pledged as security for the mortgage debt, with the right in the mortgagee to take possession upon failure by the mortgagor to perform the conditions of the mortgage.

Section 3737 of the Revised Statutes respecting the transfer of contracts with the United States does not embrace a lease of real estate, to be used for public purposes, under which the lessor is not required to perform any service for the government and has nothing to do in respect of the lease but to receive from time to time the rent agreed to be paid.

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