Transfer of Property Act, 1882
Section - 67 - Right to foreclosure or sale
RIGHTS AND LIABILITIES OF MORTGAGEE
Right to foreclosure or sale
67. In the absence of a contract to the contrary, the mortgagee has, at any time after the mortgage-money has become due to him, and before a decree has been made for the redemption of the mortgaged property, or the mortgage-money has been paid or deposited as hereinafter provided, a right to obtain from the court a decree that the mortgagor shall be absolutely debarred of his right to redeem the property, or a decree that the property be sold.
A suit to obtain a decree that a mortgagor shall be absolutely debarred of his right to redeem the mortgaged property is called a suit for foreclosure.
Nothing in this section shall be deemed-
| (a) | - | to authorise any mortgagee, other than a mortgagee by conditional sale or a mortgagee under an anomalous mortgage by the terms of which he is entitled to foreclose, to institute a suit for foreclosure, or an usufructuary mortgagee as such or a mortgagee by conditional sale as such to institute a suit for sale; or |
| (b) | - | to authorise a mortgagor who holds the mortgagee's rights as his trustee or legal representative, and who may sue for a sale of the pro .... To read the full section download the app from Google Play store
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