(10)Nothing contained in this section, except sub sections (1) and (2), shall apply to any mortgage -(i)[x x x](ii)in respect of property situated in any area in the cases mentioned below: -(a)Where during the period after the 30th September, 1937 and before the 30th January 1948, the equity of redemption in the property subject to the mortgage has devolved either wholly or in part on a person, by or, through a transfer inter vivos either from the original mortgagor or from a person deriving title from or through such mortgagor otherwise than by a transfer inter vivos , then, to the whole or such part, as the case may be -(b)Where, during the period aforesaid, the mortgagee or any of his successors in interest has transferred either wholly or in part the mortgagee s rights in the property bona fide and for valuable consideration, then, to the whole or such part, as the case may be:Provided that the transferee of a mortgage shall not be entitled to recover in respect of such mortgage, anything more than the value of the consideration for the transfer; but nothing herein contained shall, in cases where the property or portion thereof has been leased back to the mortgagor, affect the right of the transferee to recover the rents, if any, due under the lease, if such rents have not become barred by limitation under any law for the time being in force.(c)Where the mortgagee s interest in the property subject to the mortgage or any part of such interest belonged to or devolved on, two or more persons and during the period aforesaid, a partition has taken place among such persons, then, to the whole or such part of the interest, as the case may be.
