Section 10A(4) in The Jammu and Kashmir Big Landed Estates Abolition Act, 2007 (1950 A. D.)
(4)In the case of mortgages made under this section-(i)no interest shall accrue during the period for which the mortgagee is in possession of the land or in receipt of rent ;(ii)if the mortgage is in form (a) or form (b), then at the end of the fixed period of possession the mortgage debt shall be extinguished ;(iii)the mortgagor may redeem his land at any time during the currency of the mortgage on payment of the mortgage debt or in the case of a mortgage in form (a) or form (b) of such proportion of the mortgage debt as the Collector determines to be equitable ;(iv)in the case of a usufructuary mortgage the mortgagee shall not be deemed to bind himself personally to repay the mortgage money ; and(v)if a mortgagor who has applied to the Collector under sub-section (3) proves to the satisfaction of the Collector that he has paid the mortgage debt as the Collector has determined to be equitable or deposits with the Collector the amount of such mortgage debt or of such proportion thereof, the redemption of the land shall be deemed to have taken place and the Collector shall eject the mortgagee, if in possession, and as against the mortgagee place the mortgagor in possession.]
