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  • Power to deposit in Court money due on mortgage.
    Right to money deposited by mortgagor.


    : Power to deposit in Court money due on mortgage.
    Right to money deposited by mortgagor.

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  • About :: At any time after the principal money 4[payable in respect of any mortgage has become due] and before a suit for redemption of the mortgaged property is barred, the mortgagor, or any other person entitled to institute such suit, may deposit, in any Court in wh ch he might have instituted such suit, to the account of the mortgagee, the amount remaining due on the mortgage. Right to money deposited by mortgagor.?The Court shall thereupon cause written notice of the deposit to be served on the mortgagee, and the mortgagee may, on presenting a petition (verified in manner prescribed by 5law for the verification of plaints) stating the amount then due on the mortgage, and his willingness to accept the money so deposited in full discharge of such amount, and-on depositing in the same Court the mortgage-deed 6[and all documents in his possession or power relating to the mortgaged property], apply for and receive the money, and the mortgage-deed, 7[and all such other documents], so deposited hail be delivered to the