Section 78 – Postponement of Prior Mortgagee – The Transfer of Property Act, 1882
Section 78: Postponement of prior mortgagee. – Where, through the fraud, misrepresentation or gross neglect of a 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.