Fed. Farm Mtge. Corp. v. Holm

1 Citing case

  1. In re Robinson

    Bankr. No. 04-40674 (Bankr. D.S.D. Apr. 4, 2005)

    Rents and profits are not presumed to be given as part of the realty when the realty is pledged unless there is a specific provision in the mortgage. Alma Group, 616 N.W.2d. at 100; Hulseman, 259 N.W. at 680; see also First Federal Savings and Loan Association of Rapid City v. Clark Investment Co., 332 N.W.2d 258, 260-61 (S.D. 1982); Federal Farm Mortgage Corp. v. Holm, 295 N.W. 662, 663 (S.D. 1940); and First National Bank of Aberdeen v. Cranmer, 176 N.W. 881, 882 (S.D. 1920). Here, the specific assignment of rents clause on page 4 of the mortgage gave Fairbanks Capital something more than just a secured interest in the realty.