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MARGARETTEN & CO. v. ILLINOIS FARMERS INS.

No. C0-94-1420.

526 N.W.2d 389 (1995)

MARGARETTEN & COMPANY, INC., a New Jersey corporation, Appellant, v. ILLINOIS FARMERS INSURANCE CO., an Illinois corporation, Respondent.

Court of Appeals of Minnesota.

January 17, 1995.

Attorney(s) appearing for the Case

Lawrence P. Zielke, Shapiro & Nordmeyer, P.A., Edina, for appellant.

Jon A. Hanson, Margaret K. Ackerman, and Tony R. Krall, Hanson, Lulic & Krall, Minneapolis, for respondent.

Considered and decided by DAVIES, P.J., and HUSPENI, and FOLEY, JJ.

OPINION

DAVIES, Judge.

Mortgagee challenges summary judgment for insurer, arguing that (1) its right to fire insurance benefits was preserved despite mortgage foreclosure, and (2) insurer was not justified in requiring a partial assignment of mortgage as a prerequisite to payment of insurance proceeds. We affirm.

FACTS

Appellant Margaretten & Company (mortgagee) held a mortgage on a...

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