Summary

Warner v. Grayson — Opinion of the Court

Until foreclosure the mortgage is deemed a lien or charge, subject to which the estate may be conveyed, improved, and in other respects dealt with as the estate of the mortgagor.' We cannot see that it makes any difference in principle that the easement in the present case is annexed by the mortgagor by necessity, as the result of the manner in which he has improved the property.
Source: Wikisource

Warner v. Grayson — Opinion of the Court

The court said: 'Incorporeal rights of this description, acquired by the mortgagor subsequent to the date of the mortgage, for the permanent improvement of the estate, and annexed by the terms of the conveyance to the realty, may be considered as passing to the mortgagee by the foreclosure, to be exercised by him at his election. There is no reason why incorporeal rights annexed to the realty should not inure to the benefit of the mortgage security in the same manner as improvements in the nature of fixtures inure.
Source: Wikisource

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