can anybody suggest me that is there any law which provides right to mortgagor to constuct a small room on a mortgaged land during the mortgage period for look after the land.
with anticipated thanks,
navneet mehta (service) 03 August 2009
can anybody suggest me that is there any law which provides right to mortgagor to constuct a small room on a mortgaged land during the mortgage period for look after the land.
with anticipated thanks,
Y V Vishweshwar Rao (Advocate ) 03 August 2009
There si no Wrong if a some structure is constructed in the Mortgaged Proerty to protect the proerty and watch and ward - that Additional Structure value also becomes part of the Mortgaged proerty by acretion/proeprty developed ! It is not agaisnt the interest of the Mortageee !
navneet mehta (service) 04 August 2009
Thank you so much for your prompt reply.
Can you pl. provide me relevant sections, Act & case laws, if any.
you can also send me your precious reply at my mail ID
Y V Vishweshwar Rao (Advocate ) 05 August 2009
Sec 70 of Transfer of Proerty ;-
if, after date of mortgage any accession is made to the Mortgaged proerty , the mortgagee , in the absence of a contrat to the contrary, shall , for the purpose of the security ,be entitled to such accession.
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