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Section 60A: Obligation to transfer to third party instead of re -transference to mortgagor.

The Transfer of Property Act, 1882Central Act · Act 4 of 1882

[60A. Obligation to transfer to third party instead of retransference to mortgagor .-- (1) Where a mortgagor is entitled to redemption, then, on the fulfilment of any conditions on the fulfilment of which he would be entitled to require a re-transfer, he may require the mortgagee, instead of re-transferring the property, to assign the mortgage-debt and transfer the mortgaged property to such third person as the mortgagor may direct; and the mortgagee shall be bound to assign and transfer accordingly.

(2) The rights conferred by this section belong to and may be enforced by the mortgagor or by any encumbrancer notwithstanding an intermediate encumbrance: but the requisition of any encumbrancer shall prevail over a requisition of the mortgagor and, as between encumbrancers, the requisition of a prior encumbrancer shall prevail over that of a subsequent encumbrancer.

(3) The provisions of this section do not apply in the case of a mortgagee who is or has been in possession.]

Where this provision sits

ActThe Transfer of Property Act, 1882
Section60A
Marginal noteObligation to transfer to third party instead of re -transference to mortgagor.
JurisdictionCentral
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • inserted. . Sections 60A and 60B ins. by s. 23, ibid.

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