ARTISANS ORDER v. SUPERB REALTY CO

Mortgages — Possession — Leases — Foreclosure — Rights of purchaser or assignee of mortgagee.

1. A purchaser or assignee of a mortgagee who has foreclosed and bid in the property secured by the mortgage takes the property subject to a written lease entered into by the mortgagee while in possession of the premises. [257-61]

2. A prospective purchaser of real property is required to make inquiry of those in possession and, failing to do so, is affected with constructive notice of all that such inquiry would disclose. [260]

Argued September 24, 1945.