654.13 - PLEDGE OF RENTS -- PRIORITY.
654.13 PLEDGE OF RENTS -- PRIORITY. Whenever any real estate is encumbered by two or more real estate mortgages which in addition to the lien upon the real estate grant to the mortgagee the right to subject the rents, profits, avails and/or income from said real estate to the payment of the debt secured by such mortgage, the priority of the respective mortgagees under the provisions of their mortgages affecting the rents, profits, avails and/or incomes from the said real estate shall, as between such mortgagees, be in the same order as the priority of the lien of their respective mortgages on the real estate.
Section History: Early Form [C35, § 12383-e1; C39, § 12383.1; C46, 50, 54, 58, 62, 66, 71, 73, 75, 77, 79, 81, § 654.13]