Redemption Under Mortgage


Publication Information

Journal Title: Asian Journal of Multidisciplinary Research & Review
Author(s): Anand R
Published On: 03/01/2023
Volume: 3
Issue: 6
First Page: 169
Last Page: 184
ISSN: 2582-8088
Publisher: The Law Brigade Publisher

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Anand R, Redemption Under Mortgage, Volume 3 Issue 6, Asian Journal of Multidisciplinary Research & Review, 169-184, Published on 03/01/2023, Available at


The mortgaged property is used as security for the loan payment. After the due date for the Mortgagee’s Money’s Repayment has elapsed, the mortgagor is entitled to receive his property back upon payment of the principal plus interest. This right of the mortgagor is known as the Right of Redemption. The right cannot be restricted by any terms that bar redemption. Any agreement to the contrary cannot govern the right. This right is mentioned u/s 60 of the Transfer of Property Act, 1882. The word ‘Redeem’ means buy back. Here, in this context it refers to buy back the property which was mortgaged earlier by the mortgagor to the mortgagee. This right to redeem or in other words, right to discharge the debt u/s 60 generally accrues only after the completion of the mortgage period mentioned as per the terms of the contract. The limit for the maximum period of the completion of mortgage contract is not mentioned under any law in India but however in England, it is 40 years[i]. When the prerequisites for a retransfer are met, a mortgagor who is entitled to redemption may request that the mortgagee either retransfer the property to him or, in lieu of doing so, assign the mortgage obligation and transfer the mortgaged property to a third party that the mortgagor may specify.

[i] visited on 22/10/2022.

Keywords: Mortgage, Redemption, Mortgagor, Mortgagee, Sale

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