how to file for mortgage redemption of property in Bareilly
PA Asked by Parul Banerjee from India
Quick Answer
Mortgage redemption is governed by the Transfer of Property Act, 1882, and a mortgagor has a right to redeem the mortgage property on payment of the mortgage money.
Detailed Legal Analysis
Mortgage redemption is governed by the Transfer of Property Act, 1882, and a mortgagor has a right to redeem the mortgage property on payment of the mortgage money. A suit for redemption of mortgage can be filed before the civil court in Bareilly under Section 60 of the Transfer of Property Act.
The Allahabad High Court has held that the right of redemption is a substantive right and cannot be waived or taken away by contract. Uttar Pradesh Rent Control Act 1972 may prescribe procedural requirements or stamp duty for redemption deeds specific to Uttar Pradesh.
The suit must be filed within the limitation period of thirty years from the date the mortgage money becomes due. The court will determine the mortgage money, including principal and interest, and direct the mortgagor to deposit the same.
Upon deposit, the court orders the mortgagee to deliver possession and retransfer the property to the mortgagor.
Legal Provisions Referenced
Verify the current statutory text at India Code (the official repository of Indian legislation) or the Legislative Department. This answer is general legal information, not advice on your specific matter.
Disclaimer: AI-generated for educational purposes only. Does not constitute legal advice. Consult a qualified practitioner.