Mortgage
Narasimha swamy N
(Querist) 25 June 2009
This query is : Resolved
The property was mortgaged by us and registered with subregistrar.We paid the amount and got morgage papers but failed to get same removed from subregistrar office. Now we lost the paper but we do have the postion of property
Now they are claiming the the mortgage is not released and since time is barred they are claiming the property belongs to them
Even they dont have the orginal Mortgage paper
is there a time limit to get the registration cancellation from Subregistrar
I think even the other party has not claimed any money from us and hence Limitation act also applies to him to claim the money
can you please explain the implicaions of the same
Guest
(Expert) 25 June 2009
The facts mentioned by you gives an impression that your case is very weak, on the following issues :-
On clearing the mortgage, the cancellation deed must be registered.
If a person has lost his original registered deed, there are methods like newspaper notice, FIR, acquiring copy of document from SRO, etc., Hence, non-availability of original is not a strong defence.
To claim the mortgage property time limit is 30 years as per limitation act.,
Possession is immaterial in the present case.
Narasimha swamy N
(Querist) 25 June 2009
HI thanks for the reply
I have one more query on the same
Suppose if the orginal Mortgagor(who gave the property on lease for the first time dies before expiring the 30 years, then
will the legal representative gets the right to claim mortgage property within 30 years starts from his death? or it will get extinguished the moment the original mortgagor dies
Uma parameswaran
(Expert) 26 June 2009
Limitaton period start from when the right of redeem or the recover possession accrues (by a mortgagor).It will not extinguish by the death of the mortgagor.
