www.Aaptaxlaw.com
 
 
 

Section 82 - Contribution to mortgage-debt : Transfer of Property Act, 1882

 

 

What is Contribution to mortgage-debt? Section 82 of Transfer of Property Act, 1882

Section 82 of Transfer of Property Act 1882 : "Contribution to mortgage-debt"

82. Where property subject to a mortgage belongs to two or more persons having distinct and separate rights of ownership therein, the different shares in or parts of such property owned by such persons are, in the absence of a contract to the contrary, liable to contribute rateably to the debt secured by the mortgage, and, for the purpose of determining the rate at which each such share or part shall contribute, the value thereof shall be deemed to be its value at the date of the mortgage after deduction of the amount of any other mortgage or charge to which it may have been subject on that date.

Where, of two properties belonging to the same owner, one is mortgaged to secure one debt and then both are mortgaged to secure another debt, and the former debt is paid out of the former property, each property is, in the absence of a contract to the contrary, liable to contribute rateably to the latter debt after deducting the amount of the former debt from the value of the property out of which it has been paid.

Nothing in this section applies to a property liable under section 81 to the claim of the subsequent mortgagee.

 
 

TRANSFER OF PROPERTY ACT 1882

Marshalling and Contribution

Section 81 - Marshalling securities

Section 82 - Contribution to mortgage-debt

Deposit in Court

Section 83 - Power to deposit in Court money due on mortgage

Section 84 - Cessation of interest

Suits for foreclosure, sale or redemption

Section 85 - Parties to suits for foreclosure, sale and redemption

 

 

Section 86 to 90 Foreclosure and sale

Redemption

Section 91 - Persons who may sue for redemption

Section 92 - Subrogation

Section 93 - Subrogation

Section 94 - Rights of mesne mortgagee

Section 95 - Right of redeeming co-mortgagor to expenses

 

 

Section 96 - Mortgage by deposit of title-deeds

Section 97 - Application of proceeds (Repealed)

Anomalous mortgages

Section 98 - Rights and liabilities of parties to anomalous mortgages

Section 99 - Attachment of mortgaged property (Repealed)

Charges

Section 100 - Charges

 

 

Section 101 - No merger in case of subsequent encumbrance

Notice and tender

Section 102 - Service or tender on or to agent

Section 103 - Notice, etc., to or by person incompetent to contract

Section 104 - Power to make rules

Section 105 - Lease defined

Home     About Us     Privacy Policy     Disclaimer    Contact Us  Sitemap