Right of usufructuary mortgagor to recover possession

TRANSFER OF PROPERTY ACT, 1882

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 2[ 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 authorized to pay himself the mortgage- money from the rents and profits of the property,-- when such money is paid; (b) where the mortgagee is authorized to pay himself from such rents and profits 3[ 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 4[ the mortgage- money or the balance thereof] or deposits it in Court as hereinafter provided. 1. Subs. by Act 20 of 1929, s. 24, for the original section. 2 Ins. by s. 25, ibid. 3 Subs. by s. 25, ibid., for" the interest of the principal money". 4 Subs. by s. 25, ibid., for" the principal money".