What is the Right of mortgagor to redeem? Section 60 of Transfer of Property Act, 1882
60. At any time after the principal money has become due, the mortgagor has a right, on payment or tender, at a proper time and place, of the mortgage-money, to require the mortgagee (a) to deliver to the mortgagor the mortgage-deed and all documents relating to the mortgaged property which are in the possession or power of the mortgagee, (b) where the mortgagee is in possession of the mortgaged property, to deliver possession thereof to the mortgagor, and (c) at the cost of the mortgagor either to re-transfer the mortgaged property to him or to such third person as he may direct, or to execute and (where the mortgage has been effected by a registered instrument) to have registered an acknowledgement in writing that any right in derogation of his interest transferred to the mortgagee has been extinguished:
Provided that the right conferred by this section has not been extinguished by act of the parties or by decree of a Court.
The right conferred by this section is called a right to redeem, and a suit to enforce it is called a suit for redemption.
Nothing in this section shall be deemed to render invalid any provision to the effect that, if the time fixed for payment of the principal money has been allowed to pass or no such time has been fixed, the mortgagee shall be entitled to reasonable notice before payment or tender of such money.
Redemption of portion of mortgaged property.
Nothing in this section shall entitle a person interested in a share only of the mortgaged property to redeem his own share only, on payment of a proportionate part of the amount remaining due on the mortgage, except only where a mortgagee, or, if there are more mortgagees than one, all such mortgagees, has or have acquired, in whole or in part, the share of a mortgagor.
Section 41 - Transfer by ostensible owner
Section 42 - Transfer by person having authority to revoke former transfer
Section 44 - Transfer by one co-owner
Section 45 - Joint transfer for consideration
Section 46 - Transfer for consideration by persons having distinct interests
Section 47 - Transfer by co-owners of share in common property
Section 48 - Priority of rights created by transfer
Section 49 - Transferee's right under policy
Section 50 - Rent bona fide paid to holder under defective title
Section 51 - Improvements made by bona fide holders under defective titles
Section 52 - Transfer of property pending suit relating thereto
Section 53 - Fraudulent transfer
Section 53A - Part performance
CHAPTER III
SALES OF IMMOVABLE PROPERTY
Section 55 - Rights and liabilities of buyer and seller
Section 56 - Marshalling by subsequent purchaser
Section 57 - Provision by Court for incumbrances, and sale freed therefrom
CHAPTER IV
OF MORTGAGES OF IMMOVABLE PROPERTY AND CHARGES
Section 58 - Mortgage, mortgagor, mortgagee, mortgage-money and mortgage-deed defined
Section 59 - Mortgage when to be by assurance
Section 59A - References to mortgagors and mortgagees to include persons deriving title from them