redemption of mortgage
Querist :
Anonymous
(Querist) 11 December 2009
This query is : Resolved
no limitation for redemption of usufractuary mortgage, citations pls, Year of the mortgage 1955, mortgagor died. mortgagee executed sale deed in favour of third party, third part sold another party.
niranjan
(Expert) 11 December 2009
Limitation for redemption of the mortgaged property is 30 years,in this case the limitation has expired in l985,but if any time limit is fixed in the mortgage deed,that period could be added in 30 years.
Raj Kumar Makkad
(Expert) 11 December 2009
I fully disagree with niranjan. Once a mortgagee is always a mortgagee. The limitation of 30 years as given in the limitation act shall not run from the date of mortgage but from the date when the mortgagor tendered the money of mortgage or deposited it in the court with knowledge to the mortgagee. In the given case the mortgagor has not tendered any money so no limitation to redeem the mortgage and sale done to the third and fourth party is null and void and can be declared void ab initio.
Ram Kishan versus Sheo Ram 2008 (1) RCR (Civil) 334 (P & H) (FB)
joyce
(Expert) 11 December 2009
Good explained by Rajji. Thanx sir for the ruling.
niranjan
(Expert) 12 December 2009
Mr.Makkad you have not replied the querry.Do you mean to say that the property which is mortgaged in 1955 and if the mortgagor pays money in the courtin2009,he can redeem the property? Limitation will start running from the date of execution of the mortgage deed.Pl.read sec.83 of the tp act,which says 'At any time after the principal money become due and before a suit for redemption of the mortgageed property is barred'and art.61 -when the right to redeem accrues.Right to redeem accures means when no date is fixed in a mortgage deed for payment of the mortgage money,the money becomes due immediately on the execution of the deed and conseuently the right to redeem alsoaccrues immediately on the execution of the deed. The judgment you have shown says that by efflux of time the mortgagor cannot become owner as once a mortgage is always mortgage.
