Opinion
Docket No. 143123.COA No. 295212.
2011-11-2
ESTATE OF Darryl Houston PRICE.Nastassia Price and Erin Duffy–Price, Personal Representatives of the Estate of Darryl Houston Price, Plaintiffs,v.Lori Jean Kosmalski and Trade Development Company, a/k/a Trade World Company, Inc., Defendants,andEstate of Rudaford R. Sterrett, Jr., Defendant–Appellee,andThomas Woods, Receiver, Appellee,andDart Bank, Intervening Defendant–Appellant.
Prior report: 292 Mich.App. 294, 806 N.W.2d 750.
Order
On order of the Court, the application for leave to appeal the April 12, 2011 judgment of the Court of Appeals is considered, and it is GRANTED. The parties shall address: (1) whether a mortgagee must affirmatively consent to the appointment of a receiver to be required to pay the receiver's costs and fees; (2) whether the statutory right of first priority belonging to the holder of the recorded mortgage, MCL 600.3236, overrides the common-law rule that a receiver's costs and fees are entitled to first priority; and (3) whether a mortgagee must actually benefit from the incurred expenses or whether a mortgagee can be required to pay for expenses that did not benefit it.
The Michigan Association of Realtors, the Michigan Chamber of Commerce, and the Real Property Law Section of the State Bar of Michigan are invited to file briefs amicus curiae. Other persons or groups interested in the determination of the issues presented in this case may move the Court for permission to file briefs amicus curiae.