You cannot collect rent on any mortgaged property, even if you just purchased it.

If a player goes bankrupt to you and turns over mortgaged properties, the same "immediate 10%" rule applies. You must pay the 10% fee right away, then decide whether to pay off the principal or wait (incurring the extra 10% later).

You must pay the Bank the mortgage value plus 10% interest. Once paid, the deed is flipped face-up, and you can begin collecting rent or building houses (provided you own the full color group).

Before a player can sell or mortgage a property, they must first sell all houses and hotels in that color group back to the Bank at half price. Handling Bankruptcies