CHAPTER IV OF MORTGAGES OF IMMOVEABLE PROPERTY AND CHARGES · Rights and Liabilities of Mortgagor

Section 62: Right of usufructuary mortgagor to recover possession

In the case of a usufructuary mortgage, the mortgagor has a right to recover possession of the property ¹[together with the mortgage-deed and all documents relating to the mortgaged property which are in the possession or power of the mortgagee],—

(a) where the mortgagee is authorised to pay himself the mortgage-money from the rents and profits of the property.—when such money is paid:

(b) where the mortgagee is authorised to pay himself from such rents and profits ²[or any part thereof a part only of the mortgage-money],—when the term (if any), prescribed for the payment of the mortgage-money has expired and the mortgagor pays or tenders to the mortgagee ³[the mortgage-money or the balance thereof] or deposits it in Court as hereinafter provided.

Footnotes in the official text

1.Ins. by s. 25, ibid.
2.Subs. by s. 25, ibid., for “the interest of the principal money”.
3.Subs. by s. 25, ibid., for “the principal money

Questions on this section

2 questions in 9 of our papers cite Section 62. Try these from the free papers:

1. M makes a usufructuary mortgage of his shop to N for Rs 4,00,000 for a term of five years, authorising N to take the rents of the shop in lieu of interest only. The five years have expired. Under Section 62 of the Transfer of Property Act, 1882, M is entitled to recover possession of the shop when:
2. M makes a usufructuary mortgage of his land to N and authorises N to pay himself the whole mortgage-money out of the rents and profits of the land. Under Section 62 of the Transfer of Property Act, 1882, M is entitled to recover possession of the land:

Practise questions on Transfer of Property Act