Transfer of Property Act, 1882

Section - 76 - Liabilities of mortgagee in possession

Liabilities of mortgagee in possession

76. When, during the continuance of the mortgage, the mortgagee takes possession of the mortgaged property,-

(a)-he must manage the property as a person of ordinary prudence would manage it if it were his own;
(b)-he must try his best endeavours to collect the rents and profits thereof;
(c)-he must, in the absence of a contract to the contrary, out of the income of the property, pay the government revenue, all other charges of a public nature and all rent accruing due in respect thereof during such possession, and any arrears of rent in default of payment of which the property may be summarily sold;
(d)-he must, in the absence of a contract to the contrary, make such necessary repairs of the property as he can pay for out of the rents and profits thereof after deducting from such rents and p .... To read the full section download the app from Google Play store