Section 62
Right of usufructuary mortgagor to recover possession.
The Transfer of Property Act, 1882
About this Act
An Act to amend the law relating to the Transfer of Property by act of Parties.
In the case of a usufructuary
mortgage, the mortgagor has a right to recover possession of the property 1[together with the mortgagedeed and all documents relating to the mortgaged property which are in the possession or power of the
mortgagee].--
(a) where the mortgagee is authorised to pay himself the mortgage-money] from the rents and profits of the property.--when such money is paid:
(b) where the mortgagee is authorised to pay himself from such rents and profits 2[or arty part thereof a part only of the mortgage -money,]--.when the term (if any), prescribed for the payment of the mortgage-money has expired and the mortgagor pays or tenders to the mortgagee 3[the mortgage-money or the balance thereof] or deposits it in Court as hereinafter provided.
(a) where the mortgagee is authorised to pay himself the mortgage-money] from the rents and profits of the property.--when such money is paid:
(b) where the mortgagee is authorised to pay himself from such rents and profits 2[or arty part thereof a part only of the mortgage -money,]--.when the term (if any), prescribed for the payment of the mortgage-money has expired and the mortgagor pays or tenders to the mortgagee 3[the mortgage-money or the balance thereof] or deposits it in Court as hereinafter provided.
Notes
1. Ins. by s. 25, ibid.
2. Subs. by s. 25, ibid., for "the interest of the principal money".
3. Subs. by s. 25, ibid., for "the principal money".
2. Subs. by s. 25, ibid., for "the interest of the principal money".
3. Subs. by s. 25, ibid., for "the principal money".