West Virginia § 55-21-25 Effect of enforcement by mortgagee

West Virginia Statutes

§ 55-21-25 — Effect of enforcement by mortgagee

West Virginia § 55-21-25

Ch. 55ACTIONS, SUITS AND ARBITRATION; JUDICIAL SALE

Art. 21UNIFORM COMMERCIAL REAL ESTATE RECEIVERSHIP ACT

This text of West Virginia § 55-21-25 (Effect of enforcement by mortgagee) is published on Counsel Stack Legal Research, covering West Virginia primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

W. Va. Code § 55-21-25 (2026).

Text

(a)A request by a mortgagee for appointment of a receiver, the appointment of a receiver, or application by a mortgagee of receivership property or proceeds to the secured obligation does not:

(1)Make the mortgagee a mortgagee in possession of the real property;

(2)Make the mortgagee an agent of the owner;

(3)Constitute an election of remedies that precludes a later action to enforce the secured obligation;

(4)Make the secured obligation unenforceable;

(5)Limit any right available to the mortgagee with respect to the secured obligation; or

(6)Except as otherwise provided in subsection (b), bar a deficiency judgment pursuant to law of this state other than this article governing or relating to a deficiency judgment.

(b)If a receiver sells receivership property that pursuant t

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(a) A request by a mortgagee for appointment of a receiver, the appointment of a receiver, or application by a mortgagee of receivership property or proceeds to the secured obligation does not:

(1) Make the mortgagee a mortgagee in possession of the real property;

(2) Make the mortgagee an agent of the owner;

(3) Constitute an election of remedies that precludes a later action to enforce the secured obligation;

(4) Make the secured obligation unenforceable;

(5) Limit any right available to the mortgagee with respect to the secured obligation; or

(6) Except as otherwise provided in subsection (b), bar a deficiency judgment pursuant to law of this state other than this article governing or relating to a deficiency judgment.

(b) If a receiver sells receivership property that pursuant to §55-10-16(c) of this code is free and clear of a lien, the ability of a creditor to enforce an obligation that had been secured by the lien is subject to law of this state other than this article relating to a deficiency judgment.