Section 61 in The Transfer of Property Act, 1882

Title: Right to redeem separately or simultaneously.

Description: 1[61. Right to redeem separately or simultaneously.-- A mortgagor who has executed two or more mortgages in favour of the same mortgagee shall, in the absence of a contract to the contrary, when the principal money of any two or more of the mortgages has become due, be entitled to redeem any one such mortgage separately, or any two or more of such mortgages together.] 1. Subs. by s. 24, ibid., for s. 61.

Title: Right of usufructuary mortgagor to recover possession.

Description: In the case of a usufructuary mortgage, the mortgagor has a right to recover possession of the property 1[together with the mortgagedeed 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. 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".

Title: Accession to mortgaged property.

Description: Where mortgaged property in possession of the mortgagee has, during the continuance of the mortgage, received any accession, the mortgagor, upon redemption, shall, in the absence of a contract to the contrary, be entitled as against the mortgagee to such accession. Accession acquired in virtue of transferred ownership.-- Where such accession has been acquired at the expense of the mortgagee, and is capable of separate possession or enjoyment without detriment to the principal property, the mortgagor desiring to take the accession must pay to the mortgagee the expense of acquiring it. If such separate possession or enjoyment is not possible, the accession must be delivered with the property; the mortgagor being liable, in the case of an acquisition necessary to preserve the property from destruction, forfeiture or sale, or made with his assent, to pay the proper c ost thereof, as an addition to the principal money, 1[with interest at the same rate as is payable on the principal, or, where no such rate is fixed, at the rate of nine per cent. per annum.] In the case last mentioned the profits, if any, arising from the accession shall be credited to the mortgagor. Where the mortgage is usufructuary and the accession has been acquired at the expense of the mortgagee, the profits, if any, arising from the accession shall, in the absence of a contract to the contrary, be set off against interest, if any, payable on the money so expended. 1. Subs. by Act 20 of 1929, s. 26, for "at the same rate of interest".

Title: Improvements to mortgaged property.

Description: 1[63A. Improvements to mortgaged property.-- (1) Where mortgaged property in possession of the mortgagee has, during the continuance of the mortgage, been improved, the mortgagor, upon redemption, shall, in the absence of a contract to the contrary, be entitled to the improvement; and the mortgagor shall not, save only in cases provided for in sub-section (2), be liable to pay the cost thereof. (2) Where any such improvement was effected at the cost of the mortgagee and was necessary to preserve the property from destruction or deterioration or was necessary to prevent the security from becoming insufficient, or was made in compliance with the lawful order of any public servant or public authority, the mortgagor shall, in the absence of a contract to the contrary, be liable to, pay the proper cost thereof as an addition to the principal money with interest at the same rate as is payable on the principal, or, where no such rate is fixed, at the rate of nine per cent. per annum, and the profits, if any, accruing by reason of the improvement shall be credited to the mortgagor.] 1. Ins. by s. 27, ibid.

Title: Renewal of mortgaged lease.

Description: Where the mortgaged property is a lease 1***, and the mortgagee obtains a renewal of the lease, the mortgagor, upon redemption, shall, in the absence of a contract by him to the contrary, have the benefit of the new lease. 1. The words "for a term of years" omitted by s. 28, ibid.