Mortgage

Narasimha swamy N (Querist) 17 July 2009 This query is : Resolved
is there a time limit to file a suit for redemption to redeem the suit property.can it be filed even after 30 years as specified in Limitation Act?

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Raj Kumar Makkad (Expert) 01 October 2009
yes. the time limit is 30 years of mortgage to get it redeemed unless it is otherwise agreed.

Sachin Bhatia (Expert) 01 October 2009
Mr. Kumar rightly said it is 30 years of mortgage to get it redeemed unless it is otherwise agreed.

Narasimha swamy N (Querist) 24 November 2009
In your reply you have mentioned it is otherwise agreed, if in Mortgage deed if it is agreed that Mortgagee should hold the possession till the Mortage amount is paid then can we get it redeemed even after 30 years