Bare Act Search Results

Transfer of Property Act, 1882 Chapter IV

Title: Of Mortgages of Immovable Property and Charges

State: Central

Year: 1882

.....of the receiverwas valid or not. (6) The receiver shall be entitledto retain out of any money received by him, for his remuneration, and insatisfaction of all costs, charges and expenses incurred by him as receiver, acommission at such rate not exceeding five per cent, on the gross amount of allmoney received as is specified in his appointment, and, if no rate is sospecified, then at the rate of five per cent. on that gross amount, or at suchother rate as the Court thinks fit to allow, on application made by him for thatpurpose. (7) The receiver shall, if sodirected in writing by the mortgagee, insure to the extent, if any, to which themortgagee might have insured, and keep insured against loss or damage by fire,out of the money received by him, the mortgaged property or any part thereofbeing of an insurable nature. (8) Subject to the provisions ofthis Act as to the application of insurance money, the receiver shall apply allmoney received by him as follows, namely. - (i) in discharge of all rents,taxes, land revenue., rates and outgoings whatever affecting the mortgagedproperty; (ii) in keeping down all annualsums or other payments, and the interest on all principal.....

The Orissa Cooperative Land Mortgage Bank Act, 1938 Complete Act

State: Orissa

Year: 1938

.....be served under this Act. Officers of banks and sale officers not to bid at sales. 37. At any sale of movable or immovable property held under this Act in order to recover any money due to the Provincial Mortgage Bank, no Director, Secretary or other officer of such bank or its branch bank (except on behalf of the bank of which he is a Director or Secretary or an officer) and no sale officer or other person having any duty to perform in connection with such sale, shall either directly or indirectly, bid for or acquire or attempt to acquire any interest in such property. Delegation of Powers by managing committee. 38. The managing committee may, if it thinks fit, delegate all or any of its powers under this Act to an executive committee constituted by it consisting of two or more of its members of whom one shall be the Registrar or his nominee, not below the rank of Assistant Registrar. Managing Committee's power of making regulations. Bihar and Orissa Act VI of 1935. Madras Act VI of 1932. 39. Notwithstanding anything contained in the Bihar and Orissa Cooperative Societies Act, 1935, or the Madras Co-operative Societies Act, 1932, of the rules made thereunder, the managing.....

Code of Civil Procedure, 1908 Rule 1 to 15

Title: Suits Relating to Mortgages of Immovable Property

State: Central

Year: 1908

..... 14. Suit for sale necessary for bringing mortgaged property to sale (1) Where a mortgagee has obtained a decree for the payment of money in satisfaction of a claim arising under the mortgage, he shall not be entitled to bring the mortgaged property to sale otherwise than by instituting a suit for sale in enforcement of the mortgage, and he may institute such suit notwithstanding anything contained in Order II, rule 2. (2) Nothing in sub-rule (1) shall apply to any territories to which the Transfer of Property Act, 1882 (4 of 1882), has not been extended. 17[15. Mortgages by the deposit of title-deeds and charges 18[(1)] All the provisions contained in this Order which apply to a simple mortgage shall, so far as may be, apply to a mortgage by deposit of title-deeds within the meaning of section 58, and to a charge within the meaning of section 100 of the Transfer of Property Act, 1882 (4 of 1882).] 12a[(2) Where a decree orders payment of money and charges it on immovable property on default of payment, the amount may be realised by sale of that property in execution of that decree.] ______________________ 1. Substituted by Act 21 of 1929, section 4, for rule 2......

Transfer of Property Act, 1882 Section 58

Title: Mortgage, Mortgagor, Mortgagee, Mortgage-money and Mortgage-deed Defined

State: Central

Year: 1882

.....by conditional sale, an usufructuary mortgage, an English mortgage or a mortgage by deposit of title-deeds within the meaning of this section is called an anomalous mortgage.] ________________________ 1. Inserted by Act 20 of 1929, Section 19. 2. Substituted by Act 20 Section 19, for "and to appropriate them". 3. Substituted by Act 20 1929 Section 19, for "and". 4. Added by Act 20 of 1929, Section 19. 5. Substituted by the A.O. 1948, for "Bombay and Karachi". The word "and" had been Inserted by the A.O. 1937. 6. The words " Rangoon, Moulmein, Bassein and Akyab" omitted by the A.O. 1937. 7. For notifications relating to the towns of-Ahmedabad, see Gazette of India, 1935, Pt. I, p. 936, Bandra, Kurla and Ghatkoper Kirol, see Gazette of India, 1924, Pt. I, p.1064,Cawnpore, Allahabad and Lucknow, see Gazette of India, 1938, Pt. I, p.158. Coimbatore, Madura, Cocanada and Cochin, see Gazette of India, 1935, Pt. I, p. 526. 8. The words "Governor General in Council." successively amended by the A.O. 1937 and the A.O. 1950 to read as above.

The Redemption of Mortgages (Punjab) Act, 1913 Complete Act

State: Punjab

Year: 1913

.....of Mortgages (Punjab) Act 1913 Amended Punjab Act 7 of 1934 (Part VII) Amended by the Indian Independence (Adaptation of Bengal and Punjab Acts) Order of 1948 (G.G.O. 40) Amended by the Adaptation of Laws Order, 1951 Amended by adaptaion of Laws Third Amendment order 1951. Extended to Pepsu Territory and amended by Punjab Act 18 of 1958 PUNJAB ACT 2 OF 1913 An Act to provide a summary procedure for the redemption of certain mortgages of land in Punjab WHEREAS it is expedient to provide a summary procedure for the redemption of certain mortgages of land in Punjab; It is hereby enacted as follows:- Short title and commencement: 1. (1) This Act may be called the Redemption of Mortgages (Punjab) Act, 1913. (2) It extends to Punjab. (3) It shall apply only to mortgages of land- (a) in which, whatever the mortgage money, the land mortgaged, after excluding the area of any share in the common land of the village or of a sub-division of the village appertaining thereto and mortgaged therewith does not exceed in area [50 acres]; or (b) in which, whatever the area, the principal money secured under the mortgage does not exceed [5000] rupees: Provided.....

Karnataka Court-fees and Suits Valuation Act, 1958 Section 32

Title: Suits Relating to Mortgages

State: Karnataka

Year: 1958

.....mortgage or charge is impleaded in a suit by a co-mortgagee to which sub-section (4) applies, or in a suit by a sub-mortgagee to which sub-section (5) applies, the provisions of sub-section (2) and (3) shall apply mutatis mutandis to a written statement or an application filed by such holder or mortgage or charge. (7) Where the original mortgagee who is impleaded in a suit to which the provisions of sub-section (5) (b) apply claims on the mortgage sub-mortgaged by him a larger amount than is claimed in the plaint, the provisions of sub-section (4) shall apply mutatis mutandis to the written statement of such mortgagor. (8) In a suit against a mortgagee for redemption of a mortgage, fee shall be computed on the amount due to the mortgagee as stated in the plaint or on one-fourth of the principal amount secured under the mortgage, whichever is higher. Provided that, where the amount due on the mortgage is found to be more than the amount on which fee has been paid by the plaintiff, no decree shall be passed until the deficit fee is paid: Provided further that, in the case of a usufructuary or anomalous mortgage, if the plaintiff prays for redemption as well as for.....

The Punjab Restitution of Mortgaged Lands Act, 1938 Complete Act

State: Punjab

Year: 1938

.....RESTITUTION OF MORTGAGED LANDS ACT, 1938 Amended by Punjab Act I of 1943 Amended by the Indian Independence (Adaptation of Bengal and Punjab Acts) order, 1948 (G.G.O.40) Amended by Adaptation of Laws Order, 1950 Extended to Pepsu Territory Amended by Punjab Act 18 of 1958 An Act to provide for the restitution of lands on which a mortgage subsists, which was effected prior to 8th June, 1901. WHEREAS it is expedient to provide for the restitution of certain mortgaged lands in the manner hereinafter appearing, it is enacted as follows:- Short title, extent and commencement : 1. (1) This Act shall be called the Punjab Restitution of Mortgaged Lands Act, 1938. (2) It shall apply to Punjab. (3) It shall come into force on such date as the [State] Government may by notification direct. Application of the Act to subsisting mortgage effected prior to 8th June, 1901. 2. Notwithstanding anything contained in any enactment for the time being in force, this Act shall apply to any subsisting mortgages of land, which were effected prior to 8th June, 1901. [in the territories which immediately before the 1st November, 1956, were comprised in the State of Punjab,.....

Agriculture Credit Operation and Miscellaneous Provision Act, 1974 Section 7

Title: Priority of Charges and Mortgages over Certain Claims

State: Karnataka

Year: 1974

.....as term loan for development purposes, the charges or mortgages shall have priority in accordance with the dates of their creation or execution. Explanation.-For the purposes of this section, ''term loan for development purposes'' means financial assistance which would generally lead to improvement of agriculture and or building up of assets in agriculture but shall not include financial assistance for meeting working capital expenses, seasonal agricultural operations and marketing of crops. (4) Nothing in this section shall apply to borrowings from one or more co-operative societies only. _______________________ 1. Sub-Section (1) substituted by Act 34 of 1978 w.e.f. 29.12.1978.

Bombay Agricultural Debtors Relief Act, 1947, (Maharashtra) Section 33

Title: Court to Prepare Scheme for Adjustment of Debts Through Provincial Land Mortgage Bank

State: Maharashtra

Year: 1947

.....issued by the Bombay Provincial Co-operative Land Mortgage Bank, such bonds being guaranteed by the State Government, for such amount in full satisfaction of all the debts due to them from the debtor. The Court shall further direct that such amount shall be charged on all the immoveable property of the debtor.] 3[(2A) (a) Where any award made under sub-section (1) of section 55 of the repealed Act or under sub-section(2) of this section has either before or after the Bombay Agricultural Debtors' Relief (Amendment) Act, 1948, has come into force been wrongly forwarded for payment to the creditors of the debt as finally scaled down to any Primary Land Mortgage Bank which under its by-laws was not competent to make payment to the creditors, it shall be lawful to the Court notwithstanding anything contained in this Act, on application made by the creditor concerned and after holding such inquiry as it deems fit, to direct that the said award be forwarded to the Primary Land Mortgage Bank for the local area concerned competent to make the payment or to the Bombay Provincial Co-operative Land Mortgage Bank, as the case may be, for making payment in accordance with this section. .....

Transfer of Property Act, 1882 Section 79

Title: Mortgage to Secure Uncertain Amount when Maximum is Expressed

State: Central

Year: 1882

If a mortgage made to secure future advances, the performance of an engagement or the balance of a running account, expresses the maximum to be secured thereby, a subsequent mortgage of the same property shall, if made with notice of the prior mortgage, be postponed to the prior mortgage in respect of all advances or debits not exceeding the maximum, though made or allowed with notice of the subsequent mortgage. Illustration A mortgages Sultanpur to his bankers, B & Co., to secure the balance of his account with them to the extent of Rs. 10,000. A then mortgages Sultanpur to C, to secure Rs. 10,000, C having notice of the mortgage to B & Co., and C gives notice to B & Co. of the second mortgage. At the date of the second mortgage, the balance due to B & Co. does not exceed Rs. 5,000.B & Co. subsequently advance to A sums making the balance of the account against him exceed the sum of Rs. 10,000. B & Co. are entitled, to the extent of Rs. 10,000, to priority over C.