Section 98 in The Transfer of Property Act, 1882
Title: Rights and liabilities of parties to anomalous mortgages.
In the case of 1[an anomalous mortgage] the rights and liabilities of the parties shall be determined by their contract as evidenced in the mortgage-deed, and, so far as such contract does not extend, by local usage.
1. Subs. by Act 20 of 1929, s. 49, for certain words.
1[Attachment of mortgaged property.] Rep. by the Code of Civil Procedure, 1908 (5 of 1908), s. 156 and the Fifth Schedule.
1. For the repealed provisions, as re-enacted, see (Act 5 of 1908), Sch. I, Order XXXIV, rule 14.
Where immoveable property of one person is by act of parties or operation of law made security for the payment of money to another, and the transaction does not amount to a mortgage, the latter person is said to have a charge on the property; and all the provisions hereinbefore contained 1[which apply to a simple mortgage shall, so far as may be, apply to such charge].
Nothing in this section applies to the charge of a trustee on the trust property for expenses properly incurred in the execution of his trust, 2[and, save as otherwise expressly provided by any law for the time being in force, no charge shall be enforced against any property in the hands of a person to whom such property has been transferred for consideration and without notice of the charge.]
1. Subs. by Act 20 of 1929, s 50, for certain words.
2. Added by s. 50, ibid.
Title: No merger in case of subsequent encumbrance.
1[101. No merger in case of subsequent encumbrance.-- Any mortgagee of, or person having a charge upon, immoveable property, or any transferee from such Mortgagee or charge-holder, may purchase or otherwise acquire the rights in the property of the mortgagor or owner, as the case may be, without thereby causing the mortgage or charge to be merged as between himself and any subsequent mortgagee of, or person having a subsequent charge upon, the same property; and no such subsequent mortgagee or charge-holder shall be entitled to for close or sell such property without redeeming the prior mortgage or charge, or otherwise than subject thereto.]
1. Subs. by s. 51, ibid., for section 101.
Title: Service or tender on or to agent.
Where the person on or to whom any notice or tender is to be served or made under this Chapter does not reside in the district in which the mortgaged property or some part thereof is situate, service or tender on or to an agent holding a general power-of-attorney from such person or otherwise duly authorised to accept such service or tender shall be deemed sufficient.
1[Where no person or agent on whom such notice should be served can be found or is known] to the person required to serve the notice, the latter person may apply to any Court in which a suit might be brought for redemption of the mortgaged property, and such Court shall direct in what manner such notice shall be served, and any notice served in compliance with such direction shall be deemed Sufficient:
2[Provided that, in the case of a notice required by section 83, in the case of a deposit, the application shall be made to the Court in which the deposit has been made.]
3[Where no person or agent to whom such tender should be made can be found or is known] to the person desiring to make the tender, the latter person may deposit, 4[in any Court in which a suit might be brought for redemption of the mortgaged property] the amount sought to be tendered, and such deposit shall have the effect of a tender of such amount.
1. Subs. by Act 20 of 1929, s. 52, for certain words.
2. Ins. by s. 52, ibid.
3. Subs. by Act 20 of 1929, s. 52, for certain words.
4. Subs. by s. 52, ibid., for "in such Court as last aforesaid".