Usufructary mortgage-latest supreme court judgement
praveen
(Querist) 26 August 2014
This query is : Resolved
Has any one read and summarized what is the implication of suprement court Bench of 3 Judges Judgement on 21st August in the case of
Singham Ram(D) Thr. LRS. Versus Sheo Ram & ors.(Civil Appeal 5198 of 2008).
Will it change the way Limitation Act is applied to Usufructuary Mortgage?
R.K Nanda
(Expert) 26 August 2014
do something at ur own also.
praveen
(Querist) 26 August 2014
Sir
I have gone through the judgment. My understanding is that Limitation will not run from the date of the mortgage but when the Mortgage first deposit the money.
Looking for expert view
malipeddi jaggarao
(Expert) 27 August 2014
Now I have gone through the judgement. Your understanding is correctly reflected in the last page of the judgement which reads as follows:
"15. We, thus, hold that special right of usufructuary mortgagor under Section 62 of the T.P. Act to recover
possession commences in the manner specified therein, i.e., when mortgage money is paid out of rents and
profits or partly out of rents and profits and partly by payment or deposit by mortgagor. Until then, limitation
does not start for purposes of Article 61 of the Schedule to the Limitation Act. A usufructuary mortgagee is
not entitled to file a suit for declaration that he had become an owner merely on the expiry of 30 years from
the date of the mortgage. We answer the question accordingly."
Thanks to Mr.Praveen for making to read a good judgement.
praveen
(Querist) 28 August 2014
Thanks Jaggarao sir.
M V Gupta
(Expert) 28 August 2014
Thanks for alert given by the querist and clarification by Shri Jagga Rao.
praveen
(Querist) 29 August 2014
Will this judgement apply to all Usufructory mortgage? If some Usufructory mortgage deed mention time period for redemption, when will the limitation period stars will it from expiry of the period of redemption mentioned in the deed or as per this judgement only when the mortgagor first tender the money to mortgage?
Request expert to provide more insight on this.
praveen
(Querist) 29 August 2014
Will this judgement apply to all Usufructory mortgage? If some Usufructory mortgage deed mention time period for redemption, when will the limitation period stars will it from expiry of the period of redemption mentioned in the deed or as per this judgement only when the mortgagor first tender the money to mortgage?
Request expert to provide more insight on this.
malipeddi jaggarao
(Expert) 30 August 2014
Judgement is very clear. Why are you asking again and again?
Anirudh
(Expert) 30 August 2014
Please note, the time limit, if any, mentioned in any usufructory mortgage will be of no significance, in the face of the limitation prescribed in the limitation Act.
While saying so, let me explain. The limitation period prescribed in the limitation Act cannot be extended by mentioning any date in the mortgage deed. Similarly, the period of limitation cannot also be curtailed by mentioning any date in the mortgage deed.
T. Kalaiselvan, Advocate
(Expert) 31 August 2014
I agree to the proper explanation given by expert Mr.Anirudh on the subject clarifying the subsequent query too.
