www.Aaptaxlaw.com
 
 
 

Section 68 - Right to sue for mortgage-money : Transfer of Property Act, 1882

 

 

What is the Right to sue for mortgage-money? Section 68 of Transfer of Property Act, 1882

Section 68 of Transfer of Property Act 1882 : "Right to sue for mortgage-money"

68. (1) The mortgagee has a right to sue for the mortgage-money in the following cases and no others, namely :-

(a) where the mortgagor binds himself to repay the same;

(b) where, by any cause other than the wrongful act or default of the mortgagor or mortgagee, the mortgaged property is wholly or partially destroyed or the security is rendered insufficient within the meaning of section 66, and the mortgagee has given the mortgagor a reasonable opportunity of providing further security enough to render the whole security sufficient, and the mortgagor has failed to do so;

(c) where the mortgagee is deprived of the whole or part of his security by or in consequence of the wrongful act or default of the mortgagor;

(d) where, the mortgagee being entitled to possession of the mortgaged property, the mortgagor fails to deliver the same to him, or to secure the possession thereof to him without disturbance by the mortgagor or any person claiming under a title superior to that of the mortgagor :

Provided that, in the case referred to in clause (a), a transferee from the mortgagor or from his legal representative shall not be liable to be sued for the mortgage-money.

 

(2) Where a suit is brought under clause (a) or clause (b) of sub-section (1), the Court may, at its discretion, stay the suit and all proceedings therein, notwithstanding any contract to the contrary, until the mortgagee has exhausted all his available remedies against the mortgaged property or what remains of it, unless the mortgagee abandons his security and, if necessary, re-transfers the mortgaged property.

 

TRANSFER OF PROPERTY ACT 1882

Section 60A - Obligation to transfer to third party instead of re-transference to mortgagor

Section 60B - Right to inspection and production of documents

Section 61 - Right to redeem separately or simultaneously

Section 62 - Right of usufructuary mortgagor to recover possession

Section 63 - Accession to mortgaged property

 

 

Section 63A - Improvements to mortgaged property

Section 64 - Renewal of mortgaged lease

Section 65 - Implied contracts by mortgagor

Section 65A - Mortgagor's power to lease

 

 

Section 66 - Waste by mortgagor in possession

Rights and liabilities of Mortgagee

Section 67 - Right to foreclosure or safe

Section 67A - Mortgagee when bound to bring one suit on several mortgages

Section 68 - Right to sue for mortgage-money

Section 69 - Power of sale when valid

Section 69A - Appointment of receiver

Section 70 - Accession to mortgaged property

Section 71 - Renewal of mortgaged lease

Section 72 - Rights of mortgagee in possession

Section 73 - Right to proceeds of revenue sale or compensation on acquisition

 

 

Section 74 - Right of subsequent mortgagee to pay off prior mortgagee

Section 75 - Rights of mesne mortgagee against and subsequent mortgagees

Section 76 - Liabilities of mortgagee in possession

Section 77 - Receipts in lieu of interest

Priority

Section 78 - Postponement of prior mortgagee

Section 79 - Mortgage to secure uncertain amount when maximum is expressed

Section 80 - Tacking abolished

Home     About Us     Privacy Policy     Disclaimer    Contact Us  Sitemap