Section 43 in Ajmer Abolition of Intermediaries And Land Reforms Act, 1955
43. Mortgage
(1) A Khatedar tenant, or with the general or special permission of the State GoVernment or any officer authorised by it in this behalf a Gair Khatedar tenant may hypothecate or mortgage his interest in the whole or part of his holding for the purpose of obtaining-loan from the State Government or Land Development Bank as defined in the Rajasthan Co-operative Societies Act. 1965 (Act 13 of 1965) or a Co-operative Society registered or deemed to be registered as such under the said Act or any Scheduled Bank or any other institution notified by the State Government in that behalf.(2)A Khatedar tenant may transfer his interest in the whole or part of his holding in the form of usufructuary mortgage to any person but such mortgage must provide that the mortgage amount shall be deemed to be. paid off by the usufruct of the property within a specified time not exceeding five years. and in the absence of such period being specified such mortgage shall be deemed to be for five years :Provided that on or after the publication of the Rajasthan Tenancy (Pnenchrent) Act. 1970 in the official Gazette no Kharedar tenant being a member of a scheduled caste or schedule tribe shall so transfer his rights in the whole or a part of his holding to any person who is not a member of a scheduled caste or a scheduled tribe.(3)A usufructuary mortgage under sub-section (2) shall. upon the expiry of the period mentioned herein before be deemed to have been satisfied in full without any payment whatsoever by the mortgagor. and the mortgage debt shall be deemed to have been extinguished and the mortgaged land redeemed and the possession thereof shall be delivered by the mortgagee to the mortga2or free from,all encumbrances.(4)A usufructuary mortgage of any land -made before the commencement of this Act shall. upon the expiry of the period mentioned in the mortgage-deed or twenty years- from the date of execution thereof. whichever period is less. be deemed to have been satisfied in full without any payment whatsoever by the mortgagor and the mortgage debt shall accordingly be deemed to have been extinguished and thereupon the mortgaged land shall be redeemed and possession thereof shall be delivered to the mortgagor free from all encumbrances.(4-A) A usufructuary mortgage of any land made after the commencement of this Act and subsisting on the date of the commencement of the Rajasthan Tenancy (Amendment) Ordinance. 1975 shall upon the expiry of the period mentioned in the mortgage deed or live years from the date of execution thereof, whichever period expires first. be deemed to have been satisfied in full without any payment whatsoever by the mortgagor and mortgage debt shall accordingly be deemed to have been extinguished and thereupon the mortgaged land shall be redeemed and possession thereof shall be delivered to the mortgagor free from all encumbrances.(4-B) Where a usufructuary mortgage has once been made for any term under Subsection (2) or under Sub-section (4) , no further usufructuary mortgage of the same land shall be made within two years of the expiry of the first mentioned mortgage.(4-C) Where a usufructuary mortgage stands redeemed under sub-section (4-A) from a date earlier than the date of commencement of the Rajasthan Tenancy (Amendment) Ordinance, 1975, such redemption shall not be deemed to have been rendered the mortgagee liable to pay to the mortgagor any penalty or mesne profits or both for the period from the date such redemption and the date of such commencement.(4-D) On the redemption of the mortgage under sub-section (2) or sub-section (4-A) the mortgagee shall deliver to the mortgagor all documents in his possession or power relating to the mortgaged property and shall re-transfer the property to the mortgagor and put him in possession thereof at his cost free from the mortgage and from all encumbrances created by him and those claiming under him within three months from the date of redemption of the mortgage:Provided that in cases where the usufructuary mortgage has been redeemed under sub-section (4-A) from a date earlier than the date of the commencement of the Rajasthan Tenancy (Amendment) Ordinance, 1975, the delivery of documents, re-transfer and delivery of the possession of the property as aforesaid, unless already made, be effected within three months from the date of the commencement of the Rajasthan Tenancy Amendment) Act, 1976.(4-E) Any mortgagee who, without sufficient cause, fails to put the mortgagor :a possession of the property within a period of three months as specified in subsection (4-D) shall on conviction, be punishable with imprisonment for a term which may extend to one year or with fine which may extend to Rs. 1000/- or both. The offence shall be cognizable and bailable and may be compounded by the mortgagor.(5)Without prejudice to the provisions contained in sub-section (4-E), if the mortgages does not so re-deliver the possession of the land mortgaged, he shall liable to ejectment in accordance with Section 183-A.
