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61. Appointment of receiver

(1) If a mortgage entitles the mortgagee to appoint a receiver, and the mortgagee appoints a receiver as described in subsection (3) below, the receiver —
(a) may do anything in relation to the real property that the mortgagor could have done; and
(b) may act as the mortgagor's agent.
(2) However, if the receiver sells the real property, the receiver is subject to the same duties and responsibilities as if the mortgagee were the seller.
(3) If a mortgage entitles the mortgagee to appoint a receiver, the receiver will be appointed by the Court upon application by the mortgagee and subject to any other requirements set forth in any other enactment.