Section 77
Receipts in lieu of interests.
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.
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, be
taken in lieu of interest on the principal money, or in lieu of such interest and defined portions of
the principal.