71. Renewal of mortgaged lease. When the mortgaged property is a lease and the mortgagor obtains a renewal of the lease, the mortgagee, in the absence of a contract to the contrary, shall, for the purposes of the security, be entitled to the new lease. Transfer of Property Act fullKEEP READING

72. Right of mortgagee in possession. A mortgagee may spend such money as is necessary- (a) omitted by Act 20 of 1929. (b) for the preservation of the mortgaged property from destruction, forfeiture or sale; (c) for supporting the mortgagor’s title to the property; (d) for making his own titleKEEP READING

73. Right to proceeds of revenue sale or compensation on acquisition. (1) Where the mortgaged property or any part thereof or any interest therein is sold owing to failure to pay arrears of revenue or other charges of a public nature or rent due in respect of such property, andKEEP READING

74. Right of subsequent mortgagee to pay off prior mortgagee. Rep. by the Transfer of Property (Amendment) Act, 1929 (20 of 1929), sec. 39. Transfer of Property Act full bare act. Download Transfer of Property Act PDF.KEEP READING

75. Rights of mesne mortgagee against prior and subsequent mortgagees. Rep. by the Transfer of Property (Amendment) Act, 1929 (20 of 1929), sec. 39. Transfer of Property Act full bare act. Download Transfer of Property Act PDF.KEEP READING

76. 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 if it were his own; (b) he must use his best endeavours to collectKEEP READING

77. 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 property shall, so long as the mortgagee is in possession of the property, beKEEP READING

PRIORITY 78. Postponement of prior mortgagee. Where, through the fraud, misrepresentation or gross neglect of 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. Transfer of Property Act full bare act. DownloadKEEP READING

79. 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 thereby, a subsequent mortgage of the same property shall, if made with notice ofKEEP READING

80. Tacking abolished. Rep. by the Transfer of Property (Amendment) Act, 1929 (20 of 1929), sec. 41. Transfer of Property Act full bare act. Download Transfer of Property Act PDF.KEEP READING

MARSHALLING AND CONTRIBUTION 81. 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 a contract to the contrary, entitled to have the prior mortgage-debtKEEP READING

82. 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 persons are, in the absence of a contract to the contrary, liable to contributeKEEP READING

DEPOSIT IN COURT 83. Power to deposit in Court money due on mortgage. At any time after the principal money payable in respect of any mortgage has become due and before a suit for redemption of the mortgaged property is barred, the mortgagor, or any other person entitled to instituteKEEP READING

84. Cessation of interest. 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, whereKEEP READING

SUITS FOR FORECLOSURE, SALE OR REDEMPTION 85. Parties to suits for foreclosure, sale and redemption. (85-90 repealed) [Rep. by the Code of Civil Procedure, 1908 (5 of 1908), sec. 156 and Sch. V.] Transfer of Property Act full bare act. Download Transfer of Property Act PDF.KEEP READING

FORECLOSURE AND SALE 86. [Rep. by the Code of Civil Procedure, 1908 (5 of 1908), sec. 156 and Sch. V.] Transfer of Property Act full bare act. Download Transfer of Property Act PDF.KEEP READING