Section 10A(1)(b) in The Jammu and Kashmir Big Landed Estates Abolition Act, 2007 (1950 A. D.)

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State of Jammu-Kashmir - Subsection

Section 10A(1)(b) in The Jammu and Kashmir Big Landed Estates Abolition Act, 2007 (1950 A. D.)

(b)if the mortgage was already without possession, in the same form of mortgage subject to the condition that if the mortgagor fails to pay principal and interest, as determined by the Collector, the mortgagee may apply to the Collector to place him in possession for such term, not exceeding 21 years as the collector considers to be equitable, the mortgage to be treated as a usufructuary mortgage for the term of the mortgagee's possession and for such sum as may be due to the mortgagee on account of the balance of principal due and of interest due, not exceeding the amount claimable as simple interest at such rate and for such period as the Collector thinks reasonable ; or

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State of Jammu-Kashmir - Subsection

Section 10A(1)(b) in The Jammu and Kashmir Big Landed Estates Abolition Act, 2007 (1950 A. D.)