A landlord owned an apartment building. Needing money to make some repairs he went to the bank and got a loan. The bank loaned $100,000 secured by a mortgage on the apartments. the landlord defaulted on the mortgage payments. The bank instituted foreclosure proceedings and wishes to take possession of the building in order to collect rent from the property.
Does the bank have the right to take possession of the apartment building before foreclosure?
B. Yes, if the jurisdiction follows title theory.
C. No, because the landlord has a right to redeem the property before the foreclosure sale.