Mortgage

Hello sir, 

A simple mortgage deed would be valid upto the date that has been mentioned in the mortgage deed. After the expiry of such date and on non payment of money, the mortgagee has a right to sue for mortgage money under section 68 of Transfer of property Act, 1882 where the mortgagor binds himself to repay the same.

However from what i can infer from your query, instead of going through the hassle of filing a suit you can apply for a renewal of your mortgage deed incase you wish to give some more time to the mortgagor under section 71 of the Act.

Hope i was able to solve your query
Regards
Nihal

Hello sir,

You will have to approach the authorities from where you got your deed registered and follow the procedure.
The duration of 12 years is referred to as the limitation period which allows you to file a suit for recovery after the due date of debt.

Article 62 of the Indian Limitation Act, 1963 provides for a limitation period for filing a recovery of mortgaged debt and sale of mortgaged property in the event of non payment of debt. 

Article 63(a) provides for a limitation period in case of foreclosure of the mortgaged property. The limitation period for filing a suit for sale of mortgaged property is TWELVE YEARS, from the date the mortgage becomes due. The limitation period for filing a suit for foreclosure is THIRTY YEARS from the due date of the debt.

Hope this helps
Regards
Nihal

Yes you can file a suit within 12 years, starting from the date of the deed