Transfer of Property Act, 1882, Section 54, 58, 59, 107, 123 -- Applicability of Transfer of Property Act to the States of Punjab, Haryana and Chandigarh - Transfer of Property Act as such is not applicable to the States of Punjab and Haryana - Ss.54, 107 and 123 of the Act were extended to the then State of Punjab with effect from 01.04.1955 and to the Pepsu area of the..........
Transfer of Property Act, 1882, Section 58 -- Provision of S.58(d) is not applicable to the areas falling within the jurisdiction of Punjab & Haryana High Court - However, usufructuary mortgage is required to be made by way of registered deed in the State of Punjab w.e.f. 10.06.1968 and from 05.08.1967 in the State of Haryana - If the provisions of the Act are not..........
Transfer of Property Act, 1882, Section 60, Civil Procedure Code, 1908, Order 34, Rule 7, 8 -- Mortgage - Right of mortgagor to reedem - Extinguishment of right by decree of Court - Right to reedem continues to exist at all times but before confirmation of sale of mortage property irrespective of decree of sale is granted - Even second suit to seek redemption would be..........
Transfer of Property Act, 1882, Section 60 -- Mortgage - Right of mortgagor to reedem - Extinguishment of right by Act of parties - Can be by independant contract subsequent to mortgage - Not by an unilateral act on the part of mortgagee under the mortgage...........
Transfer of Property Act, 1882, Section 58 -- Mortgage - Nature of - Mortgage is essentially and basically a conveyance in law or an assignment of chattels as a security for payment of debt or for discharge of some other obligation for which it is given - The security must therefore be redeemable on the payment or discharge of such debt or obligation...........
Transfer of Property Act, 1882, Section 1 -- Interpretation of provisions - Sections 60, 62 and 67 of the Act are not applicable within the State of Punjab and Haryana - These provisions are required to be interpreted keeping in view the principles of equity and good conscience...........
Transfer of Property Act, 1882, Section 62(a) -- Usufructuary mortgage - Right of mortgagor to recover possession - In terms of clause (a) of Sec. 62, the suit is for possession after mortgage comes to end by self redeeming process as the mortgagee is authorised to pay himself the mortgage money form the rents and profits of the property - The mortgagee has to look to the..........
Transfer of Property Act, 1882, Section 62(b) -- Usufructuary mortgage - Right of mortgagor to recover possession - In terms of clause (b) of Sec. 62, the right of a mortgagor will arise only after rents and profits derived by the mortgagee out of the usufruct of the mortaged property are adjusted towards the interest or principle and on mortgagor paying the balance in the..........
Transfer of Property Act, 1882, Section 62, 67, Limitation Act, 1963, Article 61(a) -- Right of usufructuary mortgagor to recover possession - Right to foreclosure or sale - When the right to redeem or possession accrues - Limitation of 30 years - The right to redemption or recover possesion accrues to the mortgagor on payment of sum secured, where rents and profits are to..........
Transfer of Property Act, 1882, Section 60, 62, 67, Limitation Act, 1963, Article 61(a) -- Usufructary Mortgage - Suit by mortgagee for declaration to the effect that they have become onus of land by prescription - Contention that after expiry of period of limitation to sue for foreclosure, the mortgages have a right to seek declaration in respect of their title over the..........
