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Supreme Court of India
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Civil Law
Bare Acts
The Transfer of Property Act, 1872
Section 51-96
Section 53-A
Section 54
Section 80
Section 86-90
Section 92
Section 66- Waste by mortgagor in possession

A mortgagor in possession of the mortgaged property is not liable to the mortgagee for allowing the property to deteriorate; but he must not commit any act which is destructive or permanently injurious thereto, if the security is insufficient or will be rendered insufficient by such act.

Explanation: A security is insufficient within the meaning of this section unless the value of the mortgaged property exceeds by one-third, or, if consisting of buildings, exceeds by one-half, the amount for the time being due on the mortgage.

@2014 Indian Law

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