Section 63 The Transfer of Property Act, 1882
Section 63 The Transfer of Property Act, 1882:
Accession to mortgaged property.—Where mortgaged property in possession of the mortgagee has, during the continuance of the mortgage, received any accession, the mortgagor, upon redemption shall, in the absence of a contract to the contrary, be entitled as against the mortgagee to such accession. Accession acquired in virtue of transferred ownership.—Where such accession has been acquired at the expense of the mortgagee, and is capable of separate possession or enjoyment without detriment to the principal property, the mortgagor desiring to take the accession must pay to the mortgagee the expense of acquiring it. If such separate possession or enjoyment is not possible, the accession must be delivered with the property; the mortgagor being liable, in the case of an acquisition necessary to preserve the property from destruction, forfeiture or sale, or made with his assent, to pay the proper cost thereof, as an addition to the principal money, 1[with interest at the same rate as is payable on the principal, or, where no such rate is fixed, at the rate of nine per cent per annum]. In the case last mentioned the profits, if any, arising from the accession shall be credited to the mortgagor. Where the mortgage is usufructuary and the accession has been acquired at the expense of the mortgagee, the profits, if any, arising from the accession shall, in the absence of a contract to the contrary, be set off against interest, if any, payable on the money so expended.
Supreme Court of India Important Judgments And Leading Case Law Related to Section 63 The Transfer of Property Act, 1882:
Standard Chartered Bank And Anr vs Custodian And Anothe Etc on 18 April, 2000
Hiten P. Dalal vs Stardard Chartered Bank And on 18 April, 2000
Vinodchandra Sakarlal Kapadia vs State Of Gujarat . on 15 June, 2020
Bhimrao Ramchandra Khalate vs Nana Dinkar Yadav (Tanpura) on 13 August, 2021
Ambikapati Ammal & Anr vs Kandaswamy Koil on 10 March, 2015
Dattatraya Shanker Mote & Ors vs Anand Chintaman Datar & Ors on 3 October, 1974
Nagulapati Lakshmamma vs Mupparaju Subbaiah on 15 April, 1998
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