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Wednesday, March 17, 2010

Usufructuary mortgage--Right of redemption--Extinguishment of

2010(1) LAW HERALD (P&H) 470
IN THE HIGH COURT OF PUNJAB AND HARYANA
Before
The Hon’ble Mr. Justice Vinod K.Sharma
RSA No.1410 of 1984
Malkiat Singh
v.
Jagir Singh & Ors.
{Decided on 25/01/2010}
For the Appellant: Mr. G.S. Punia, Advocate.
For the Respondents: None.
IMPORTANT POINT
Mortgage--Usufructuary mortgage--Cannot mature into ownership with passage of time.
Transfer of Property Act, 1882, S.62--Mortgage--Usufructuary mortgage--Right of redemption--Extinguishment of--Whether usufructuary mortgage could mature into ownership with passage of time--No--In case of usufructuary mortgage where no time limit is fixed to seek redemption, the right to seek redemption would not arise on the date of mortgage but will arise on date when mortgagor pays or tenders to mortgagee or deposits in Courts mortgage money or balance thereof. (P.10 & 11)