33-703. Effect of mortgage as lien; right to possession of mortgaged property; rights of mortgagee in property acquired by mortgagor after execution of mortgage
A. A mortgage is a lien upon everything that would pass by a grant of the property, but does not entitle the mortgagee to possession of the property unless authorized by the express terms of the mortgage. After execution of the mortgage, the mortgagor may agree to a change of possession without a new consideration.
B. Title acquired by the mortgagor subsequent to the execution of the mortgage inures to the mortgagee as security as if acquired before the execution.
Section: Previous 33-508 33-511 33-512 33-513 33-601 33-701 33-702 33-703 33-704 33-705 33-706 33-707 33-708 33-709 33-710 NextLast modified: October 13, 2016