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Section 84 - Cessation of interest : Transfer of Property Act, 1882

 

 

What is Cessation of interest? Section 84 of Transfer of Property Act, 1882

Section 84 of Transfer of Property Act 1882 : "Cessation of interest"

84. When the mortgagor or such other person as aforesaid has tendered or deposited in Court under section 83 the amount remaining due on the mortgage, interest on the principal money shall cease from the date of the tender or in the case of a deposit, where no previous tender of such amount has been made, as soon as the mortgagor or such other person as aforesaid has done all that has to be done by him to enable the mortgagee to take such amount out of Court, and the notice required by section 83 has been served on the mortgagee:

Provided that, where the mortgagor has deposited such amount without having made a previous tender thereof and has subsequently withdrawn the same or any part thereof, interest on the principal money shall be payable from the date of such withdrawal.

Nothing in this section or in section 83 shall be deemed to deprive the mortgagee of his right to interest when there exists a contract that he shall be entitled to reasonable notice before payment or tender of the mortgage-money and such notice has not been given before the making of the tender or deposit, as the case may be.

 
 

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Section 97 - Application of proceeds (Repealed)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Section 99 - Attachment of mortgaged property (Repealed)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

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