Rights and liabilities of buyer and seller.— In the absence of a contract to the contrary, the buyer and the seller of immoveable property respectively are subject to the liabilities, and have the rights, mentioned…
Marshalling by subsequent purchaser.— If the owner of two or more properties mortgages them to one person and then sells one or more of the properties to another person, the buyer is, in the absence…
Provision by Court for incumbrances and sale freed therefrom.— (a) Where immoveable property subject to any incumbrance, whether immediately payable or not, is sold by the Court or in execution of a decree, or out…
“Mortgage”, “mortgagor”, “mortgagee”, “mortgage-money” and “mortgage-deed” defined.— (a) A mortgage is the transfer of an interest in specific immoveable property for the purpose of securing the payment of money advanced or to be advanced by…
Mortgage when to be by assurance.— Where the principal money secured is one hundred rupees or upwards, a mortgage other than a mortgage by deposit of title-deeds can be effected only by a registered instrument…
Right of mortgagor to redeem.— At any time after the principal money has become due, the mortgagor has a right, on payment or tender, at a proper time and place, of the mortgage – money,…
Right to redeem separately or simultaneously.— A mortgagor who has executed two or more mortgages in favour of the same mortgagee shall, in the absence of a contract to the contrary, when the principal money…
Right of usufructuary mortgagor to recover possession.— In the case of a usufructuary mortgage, the mortgagor has a right to recover possession of the property together with the mortgage deed and all documents relating to…
Accession to mortgaged property.— Where mortgaged property in possession of the mortgagee has, during the continuance of the mortgage, received any accession, the mortgagor, upon redemption, shall, in the absence of a contract to the…