Section 62 – Right of Usufructuary Mortgagor to Recover Possession – The Transfer of Property Act, 1882
Section 62: Right of usufructuary mortgagor to recover possession. – In the case of a usufructuary mortgage, the mortgagor has a right to recover possession of the property 1[together with the mortgage deed 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.
Reference:
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”.