2113.45 Mortgaged premises to be considered personal assets - possession.
2113.45 Mortgaged premises to be considered personal assets - possession.
When a mortgagee of real estate, or an assignee of such mortgagee, dies without foreclosing the mortgage, the mortgaged premises and the debts secured thereby shall be considered personal assets in the hands of the executor or administrator of such mortgagee or assignee, and be administered and accounted for as such.
If a mortgagee or assignee did not obtain possession of the mortgaged premises in his lifetime, his executor or administrator may take possession by open and peaceable entry or by action, as the deceased might have done if living.
Effective Date: 10-01-1953