A STUDY ON LAW OF MORTGAGES WITH SPECIAL REFERNCE TO THE RIGHT TO REDMEPTION

AUTHORS – R SHANMUGA PRIYA* & Dr.P. BRINDHA**, LLM SCHOLAR (PROPERTY LAW)* & H.O.D** AT SCHOOL OF EXCELLENCE IN LAW, TNDALU.

BEST CITATION – R SHANMUGA PRIYA & Dr.P. BRINDHA, A STUDY ON LAW OF MORTGAGES WITH SPECIAL REFERNCE TO THE RIGHT TO REDMEPTION, INDIAN JOURNAL OF LEGAL REVIEW (IJLR), 4 (4) OF 2024, PG. 692-698, APIS – 3920 – 0001 & ISSN – 2583-2344.

ABSTRACT

Mortgage law is a fundamental aspect of property law, governing the rights and obligations of borrowers and lenders in securing loans with immovable property. This article delves into the concept of mortgage laws, focusing on the historical developments, what are the restrictions and its validity and Parital redemption. Further, the article addresses the legal framework, covering the SARFAESI Act, Transfer of Property Act, and Limitation Act, which collectively influence the enforceability, recovery, and redemption rights within mortgage law. A comparative analysis between the SARFAESI Act and the Transfer of Property Act emphasizes the tension between expedited asset recovery for lenders and extended redemption rights for borrowers. Through this discussion, this article focuses on balance between borrower protection and lender security in mortgage law, underscoring its broader economic and social implications.