mortgage

umakant (Querist) 04 February 2010 This query is : Resolved
if a mortgage was executed and registered in year1954 and an entry of same was made on property,later on mortgager and mortgagee both died,now the heirs of mortgagor's selling the property and an objection to sale was made by the mortgagee's heirs whether the mortagagee's heirs can cliam the mortgage amount now? and what is the effect of entry of mortgage on property?

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prakash vathore (Expert) 04 February 2010
"once a mortgage always a mortgage" they can claim mortgage amount.

R.R. KRISHNAA (Expert) 04 February 2010
Expert Mr. Prakash is correct and accurate.

Deekshitulu.V.S.R (Expert) 04 February 2010
I think this subjrct needs scrutiny. There is Law of Limitation. when 12 yers period is over the rights of the mortgageee dies and he cannot enforce the rights in a court of law. Unless there are acknowledgments from time to time by the mortgagor to save limitation theright to enforce mortgage is lost after 12 years.

Yamalapalli Haribob (Expert) 04 February 2010
NO U ARE NOT ENTITLED.U R CLAIM WAS BARRED BY LIMITATION.

Guest (Expert) 04 February 2010
I agree with Shri Deekshitulu. But Mr.Prakash Vathore or Mr.Krishna may please elicit how the mortgagee's LRs are still entitled to the loan amount, as I am curious to know.