Can a mortgagee in possession of a property be liable for loss of property due to negligence?
Alberta, Canada
The following excerpt is from Unican Development Corporation Limited v. Settlers Savings and Mortgage Corporation, 1984 CanLII 1161 (AB QB):
That a mortgagee in possession is liable for this type of loss when it results from want of care is evident in the decision of the Chancellor in Perm v. Lockwood and in Merriam v. Cronk, both supra.
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