Section
60-A-
Obligation to transfer to third party instead of re-transference to mortgagor
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Where a mortgagor is entitled to redemption, then, on the fulfilment of any conditions of the fulfilment of which he would be entitled to require a retransfer, he may require the mortgagee, instead of re-transferring the property, to assign the mortgage debt and transfer the mortgaged property to such third person as the mortgagor may direct; and the mortgagee shall be bound to assign and transfer accordingly.
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The rights conferred by this section belong to and may be enforced by the mortgagor or by any encumbrancer notwithstanding an intermediate encumbrance; but the requisition of any encumbrance shall prevail over a requisition of the mortgagor and, as between encumbrancers, the requisition of a prior encumbrancer shall prevail over that of a subsequent encumbrancer.
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The provisions of this section do not apply in the case of a mortgagee who is or has been in possession.
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The Transfer of Property Act, 1872
Judgement(s) Found in :
The Transfer of Property Act, 1872
Section 60-A