(A) Transfer of Property Act, 1882 – Section 61, 62, 92 – Usufructuary Mortgage – No time limit to redeem – Property had been redeemed by some of the co mortgagors but the jural relationship of mortgagor and mortgagee had not come to an end – Mortgagee do not become owner – Suit for declaration and injunction was legally maintainable. (Para 8, 11, 12)
We need not multiply reference to other judgments. Reference to above judgments clearly spell out the reasons for conflicting views. In cases where distinction in usufructuary mortgagor’s right under Section 62 of the T.P. Act has been noted, right to redeem has been held to continue till the mortgage money is paid for which there is no time limit while in other cases right to redeem has been held to accrue on the date of mortgage resulting in extinguishment of right of redemption after 30 years. (Para 11)
(B) Limitation Act, 1963 – Article 61 – Limitation – Redemption of Usufructuary Mortgage – Whether the plaintiff as holder of usufructuary mortgage could defeat the title of mortgagors by implication of Article 61 of the schedule to Limitation Act – Held: No. (Para 12, 13)
HIGH COURT OF HIMACHAL PRADESH
2023 STPL(Web) 87 HP
Dev Raj & Others Vs. Ram Kishan (Deceased) Through Lrs.
RSA No. 404 of 2014-Decided on 14-8-2023
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