LawgistThe Transfer of Property Act
66Waste by mortgagor in possession
A mortgagor in possession of the mortgaged property is not liable to the mortgagee for allowing the property to deteriorate; but he must not commit any act which is destructive or permanently injurious thereto, if the security is insufficient or will be rendered insufficient by such act.
Explanation.-- A security is insufficient within the meaning of this section unless the value of the mortgaged property exceeds by one-third, or, if consisting of buildings, exceeds by one-half, the amount for the time being due on the mortgage.
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Rights and liabilities of mortgagor
- 60 Right of mortgagor to redeem
- 60A Obligation to transfer to third party instead of re -transference to mortgagor
- 60B Right to inspection and production of documents
- 61 Right to redeem separately or simultaneously
- 62 Right of usufructuary mortgagor to recover possession
- 63 Accession to mortgaged property
- 63A Improvements to mortgaged property
- 64 Renewal of mortgaged lease
- 65 Implied contracts by mortgagor
- 65A Mortgagor‟s power to lease
- 66 Waste by mortgagor in possession
