What is Postponement of prior mortgagee? Section 78 of Transfer of Property Act, 1882
78. Where, through the fraud, misrepresentation or gross neglect of a prior mortgagee, another person has been induced to advance money on the security of the mortgaged property, the prior mortgagee shall be postponed to the subsequent mortgagee.
Rights and liabilities of Mortgagee
Section 74 - Right of subsequent mortgagee to pay off prior mortgagee
Section 75 - Rights of mesne mortgagee against and subsequent mortgagees
Section 80 - Tacking abolished