Does a mortgagee have a right to sue for the proceeds of the mortgage if they have mortgaged the estate?
Saskatchewan, Canada
The following excerpt is from Saskatchewan General Trusts Corporation v. McCarthy, 1932 CanLII 243 (SK CA):
In Munsen v. Hauss (1875) 22 Gr. 279, the headnote is as follows: If after a mortgagee has obtained a final order of foreclosure he has mortgaged the estate, that fact alone will not deprive him of the right to sue for the mortgage money, if, at the time of bringing the action, he has paid off the mortgage created by himself, and is in a position to re-convey the estate; neither does the fact of his having allowed the premises to fall into decay prevent him from so suing. Gowland v. Garbutt (1867) 3 Gr. 578, at 583, observed upon.
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