Section 78 - Postponement of prior mortgagee : Transfer of Property Act, 1882

What is Postponement of prior mortgagee? Section 78 of Transfer of Property Act, 1882

 

 

Section 78 of Transfer of Property Act 1882 : "Postponement of prior mortgagee"

78. Where, through the fraud, misrepresentation or gross neglect of a prior mortgagee, another person has been induced to advance money on the security of the mortgaged property, the prior mortgagee shall be postponed to the subsequent mortgagee.

TRANSFER OF PROPERTY ACT 1882

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