Section 62Chapter IV

Right of usufructuary mortgagor to recover possession

OF MORTGAGES OF IMMOVEABLE PROPERTY AND CHARGES

In the case of a usufructuary mortgage, the mortgagor has a right to recover possession of the property together with the mortgage-deed and all documents relating to the mortgaged property which are in the possession or power of the mortgage,-

(a)

where the mortgagee is authorised to pay himself the mortgage-money from the rents and profits of the property, - when such money is paid;

(b)

where the mortgagee is authorised to pay himself from such rents and profits or any part thereof a part only of the mortgage-money – when the term, if any, prescribed for the payment of the mortgage-money has expired and the mortgagor pays or tenders to the mortgagee the mortgage-money or the balance thereof or deposits it in Court as hereinafter provided.