(1)Any debtor may within one year from the date of commencement of this Act may, make an application to the concerned Debt Relief Officer that any transfer of immovable property made by him or any other person through whom he inherited the immovable property was a transfer in the nature of a mortgage and the Debt Relief Officer, may, after such enquiry as he deems fit, if satisfied that the circumstances connected with the transfer showed the transfer to be in the nature of a mortgage, then notwithstanding anything to the contrary contained in any law, custom or contract declare such transfer to be a mortgage.
