Section 60A - Obligation to transfer to third party instead of
re-transference to mortgagor : Transfer of Property Act, 1882
What is the Obligation to transfer to third party instead of
re-transference to mortgagor?
Section 60A of Transfer of Property Act, 1882
Section 60A of Transfer of Property Act 1882 : "Obligation to
transfer to third party instead of re-transference to mortgagor"
60A. (1) Where a mortgagor is entitled to
redemption, then, on the fulfilment of any
conditions on the fulfilment of which he would be
entitled to require a re-transfer, he may require
the mortgagee, instead of re-transferring the
property, to assign the mortgage-debt and transfer
the mortgaged property to such third person as the
mortgagor may direct; and the mortgage shall be
bound to assign and transfer accordingly.
(2) The rights conferred by this section belong to and may be
enforced by the mortgagor or by encumbrancer notwithstanding an
intermediate encumbrance; but the requisition of any
encumbrancer shall prevail over a requisition of the mortgagor
and, as between encumbrancers, the requisition of the prior
encumbrancer shall prevail over that of subsequent encumbrancer.
(3) The provisions of this section do not apply in the case
of a mortgagee who is or has been in possession.