Rights and Liabilities of Mortgagor
A mortgage is a famous and old concept. It is focused on the principle of equity and good conscience. Sec. 58 of the Transfer of Property Act (TOPA) 1882 explains a mortgage. A mortgage is particularly the transfer of an interest in some immovable property by a person termed called mortgagor to another person called the mortgagee. Transfer of property act recognizes seven rights and five liabilities of the mortgagor. This research paper attempts to study the rights and liabilities of the mortgagor under the Transfer of Property Act along with some important judgments delivered by the Supreme Court on such rights of the mortgagor. Lastly, the aim of the research is to compare the rights and liabilities of the mortgagor in the present modern world and to realize the need for an amendment in mortgage law under the Transfer of Property Act for stricter implementation of laws.
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