Varun Kumar Jha

Right of subsequent mortgagee to pay off prior mortgagee. Rep. by the Transfer of Property (Amendment) Act, 1929 (20 of 1929), s. 39.

Rights of mesne mortgagee against and subsequent mortgagees. Rep. by s. 39, ibid.

Liabilities of mortgagee in possession.— When, during the continuance of the mortgage, the mortgagee takes possession of the mortgaged property,— (a) he must manage the property as a person of ordinary prudence would manage it… 

Receipts in lieu of interest.— Nothing in section 76, clauses (b), (d), (g) and (h), applies to cases where there is a contract between the mortgagee and the mortgagor that the receipts from the mortgaged… 

Postponement of prior mortgagee.— 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… 

Mortgage to secure uncertain amount when maximum is expressed.— If a mortgage made to secure future advances, the performance of an engagement or the balance of a running account, expresses the maximum to be secured… 

Tacking abolished. Rep. by the Transfer of Property (Amendment) Act, 1929 (20 of 1929), s. 41.

Marshalling securities.— If the owner of two or more properties mortgages them to one person and then mortgages one or more of the properties to another person, the subsequent mortgagee is, in the absence of… 

Contribution to mortgage-debt.— 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…