claim to any debt, other than a debt secured by mortgage of immovable property or by hypothecation or pledge of moveable property
Mortgage”, “mortgagor”, “mortgagee”, “mortgage-money” and “mortgage-deed” defined.—
(a) A mortgage is the transfer of an interest in specific immoveable property for the purpose ... payment of the mortgage-money, the transaction is called a simple mortgage and the mortgagee a simple mortgagee. (c) Mortgage by conditional sale.— Where
decree has been made for the redemption of the mortgaged property, or the mortgage-money has been paid or deposited as hereinafter provided, a right ... deemed— (a) to authorise any mortgagee other than a mortgagee by conditional sale or a mortgagee under an anomalous mortgage by the terms of which
Right to sue for mortgage-money.—
(1) The mortgagee has a right to sue for the mortgage-money in the following cases and no others ... than the wrongful act or default of the mortgagor or mortgagee, the mortgaged property is wholly or partially destroyed or the security is rendered insufficient
partly in payment of the mortgage-money, the transaction is called a usufructuary mortgage and the mortgagee a usufructuary mortgagee.
xxx xxx xxx
60. Right ... deemed-
(a) to authorise any mortgagee other than a mortgagee by conditional sale or a mortgagee under an anomalous mortgage by the terms of which
Transfer Of Property Act, 1882
82. Contribution to mortgage-debt.—
Where property subject to a mortgage belongs to two or more persons having distinct ... debt, and the former debt is paid out of the former property, each property is, in the absence of a contract to the contrary, liable
mortgage or charge to be merged as between himself and any subsequent mortgagee of, or person having a subsequent charge upon, the same property ... holder shall be entitled to foreclose or sell such property without redeeming the prior mortgage or charge, or otherwise than subject thereto
property'
do not stand only for 'full ownership of property'. If the
transfer of an interest in property to. a mortgagee, whether ... mortgage by holding that the
right a mortgage gets under a mortgage can. also be said to
be in the hands of the mortgagee
payment of the mortgage-money, the
transaction is called a simple mortgage and the mortgagee a simple
mortgagee.
(c) Mortgage by conditional sale-Where ... Anomalous mortgage-A mortgage which is not a simple mortgage, a
mortgage by conditional sale, a usufructuary mortgage, an English mortgage
or a mortgage
mortgagees after the mortgage was created. It is also true
that in all these mortgage deeds, there was provision that
the mortgagees were competent ... staying in suit property and had no property except the suit
property. He tried to explain the circumstances in which the
mortgage deed was executed