What is Accession to mortgaged property? Section 63 of Transfer of Property Act, 1882
63. Where mortgaged property in possession of the mortgagee has, during the continuance of the mortgage, received any accession, the mortgagor, upon redemption, shall, in the absence of a contract to the contrary, be entitled as against the mortgagee to such accession.
Accession acquired in virtue of transferred ownership
Where such accession has been acquired at the expense of the mortgagee, and is capable of separate possession or enjoyment without detriment to the principal property, the mortgagor desiring to take the accession must pay to the mortgagee the expense of acquiring it. If such separate possession or enjoyment is not possible, the accession must be delivered with the property; the mortgagor being liable, in the case of an acquisition necessary to preserve the property from destruction, forfeiture or sale, or made with his assent, to pay the proper cost thereof, as an addition to the principal money, with interest at the same rate as is payable on the principal, or, where no such rate is fixed, at the rate of nine per cent per annum.
In the case last mentioned the profits, if any, arising from the accession shall be credited to the mortgagor.
Where the mortgage is usufructuary and the accession has been acquired at the expense of the mortgagee, the profits, if any, arising from the accession shall, in the absence of a contract to the contrary, be set off against interest, if any, payable on the money so expended.
Section 60A - Obligation to transfer to third party instead of re-transference to mortgagor
Section 60B - Right to inspection and production of documents
Section 61 - Right to redeem separately or simultaneously
Section 62 - Right of usufructuary mortgagor to recover possession
Section 63 - Accession to mortgaged property
Section 63A - Improvements to mortgaged property
Section 64 - Renewal of mortgaged lease
Section 65 - Implied contracts by mortgagor
Section 65A - Mortgagor's power to lease
Section 66 - Waste by mortgagor in possession
Rights and liabilities of Mortgagee
Section 67 - Right to foreclosure or safe
Section 67A - Mortgagee when bound to bring one suit on several mortgages
Section 68 - Right to sue for mortgage-money
Section 69 - Power of sale when valid
Section 69A - Appointment of receiver
Section 70 - Accession to mortgaged property
Section 71 - Renewal of mortgaged lease
Section 72 - Rights of mortgagee in possession
Section 73 - Right to proceeds of revenue sale or compensation on acquisition
Section 74 - Right of subsequent mortgagee to pay off prior mortgagee
Section 75 - Rights of mesne mortgagee against and subsequent mortgagees
Section 76 - Liabilities of mortgagee in possession
Section 77 - Receipts in lieu of interest
Priority
Section 78 - Postponement of prior mortgagee
Section 79 - Mortgage to secure uncertain amount when maximum is expressed
Section 80 - Tacking abolished