Jasbeer Singh (student) 04 July 2013
If A mortgages his property worth 15 lakh for an amount of rs. 5 lakh borrowed from B and states in the mortgage deed that a second mortgage on the same property must reuire B's permission first. Can A go ahead and mortgage this same property to borrow rs. 5 lakh from C making C the second mortgagee in such a way it does not affect the rights of A and without A's permission. ? According to the Transfer of Property act. Case laws would help. Please reply urgent!
Adv Archana Deshmukh (Practicing Advocate) 04 July 2013
He can do the second mortgage considering the value of the property is more than enuf to accomodate the second mortgage.
Jasbeer Singh (student) 04 July 2013
Thank you Madam, is there any case law for this or a section in the tp act??
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