Does Paying Off Mortgage Debt Make You the Mortgagee?

Here the right is given to any person interested in the payment to offer to the prior mortgagee the amount of the debt and so to obtain an extinguishment of the obligation. ... Counsel claimed to maintain the action as mortgagee. The question we have to consider is whether a subsequent mortgagee has the right to compel a prior mortgagee to accept payment of the amount due to him and to give a discharge of his bond. ... The plaintiff has all along in the proceedi....

2022 Supreme(Online)(MAD) 39057

Sivathanu Pillai) for the proposition that a person who discharged the mortgage debt steps into shoes of the mortgagee and he is entitled to recover contribution and the limitation for enforcing the right to contribution is twelve years under Article 62 of the Limitation Act 1963. ... A redeeming co-mortgagor, therefore, will and indeed must have two distinct rights in respect of moneys paid by him in excess of his share for discharging a common mortgage; (i) a right to step....

was sold and purchased by a third person, the puisne mortgagee is entitled to sue for sale on his mortgage, subject to the prior mortgage after making the purchaser a party to the suit." ... Applying the principle that the Court can grant equitable relief against the forfeiture of the rights of either mortgagee where both have failed to register an address, it would seem that the first person to secure the right, title, and interest of the mortgagor in the land steps into his #HL....

" The surviving parent is not only entitled to alienate property for the payment of debts, but is also the person to collect the debts due to the community. It follows, therefore, that he is also the proper person to be sued for a mortgage debt incurred during the community. ... C, 180), where a widow of a deceased mortgagee was sued as executrix de son fort, and the plaint prayed for a mortgage decree against the property hypothecated for the mortgage ....

Madras High Court

the mortgage debt steps into shoes of the mortgagee and he is entitled to recover contribution and the limitation shoes of the mortgagee satisfied by him; and (ii) a right to redeeming co-mortgagee.” ... As far as the second contention made by the learned counsel for the petitioners is concerned whether the original mortgagee viz., the

The sole question is, whether the execution sale entitled the purchaser to recover the debt in the same manner that the execution-debtor (the original mortgagee) might have recovered it? ... The competition is between the first eight defendants, who are the legal   representatives of the mortgagee, and the 9th, 10th, and 11th  defendants, who are the legal representatives of a person who had purchased in execution the interest of the mortgage. ...       Mortgage....

It is there agreed that where a puisne incumbrancer, not bound by a mortgage decree, seeks to disturb a purchaser under that decree, he must redeem the land by paying the amount of the mortgage debt, but it is not agreed whether the whole of this sum is to go to the mortgage purchaser, or whether ... Moreover, the person who claims an adverse interest by virtue of the mortgage bond is the mortgagee. The purchaser, who is often....

In such a case the qualities of debtor and creditor become united in the same person and the debt itself is extinguished; a person cannot be his own creditor. ... Merger does not settle a debt except in the case when a debtor and creditor become united in one person, both as regards the debt and its security. There are more ways than one of settling a debt. It is the existence of the debt that is emphasized. ... His mortgage is....

What is the position of the purchaser of a mortgaged property, who pays the mortgage debt or part thereof to the original mortgagee without knowledge that the mortgage debt has been assigned ? ... The purchaser having paid the wrong person, it does not matter whether the payment is bona fide or not. But it has a bearing on another aspect of the case, which must now be considered. ... The remaining question is whether, if a payment of Rs. 750 w....

It seems to me that that, order impressed plaintiff's mortgage on those lands, and, whether or not it is expressed in the Fiscal's conveyance, the purchaser took them subject to the mortgage so impressed upon them. ... The impression of course disappears with the debt, and if the plaintiff has a debt subsisting under his mortgage bond it seems to me he is clearly entitled to have it satisfied by the sale of the property which, by the order of the Court, was sold subject to his ....

2019 0 Supreme(Mad) 3179

The person who redeems the entire mortgage steps into the shoes of the mortgagee and the rights of the mortgagee stands subrogated in favour of the person who redeems the entire mortgage, in view of Section 92 of the Transfer of Property Act. Therefore it is, Govindan upon redemption of the entire mortgage had a right to enter into an agreement to subrogate the rights of the first mortgagee, viz. Madras Purasawalkam Hindu Janopakara Saswatha Nidhi Ltd. Either of them could have redeemed the entire mortgage.

2014 0 Supreme(AP) 1193

The purchaser would be step into the shoes of the mortgagor, and the right of the mortgagee remains intact. The only difference would be that what stands transferred is the equity of mortgage.

2011 0 Supreme(Ker) 858

There is distinction between a redemption by a co-mortgagor and a third party. Their Lordships in VariavanSaraswathi’s case held that a co-mortgagor in possession excess share redeemed by him, can enforce his claim against the non redeemed mortgagor by exercising rights of foreclosure or sale as exercised by the mortgagee under Section 67 of Transfer of Property Act but that does not make him a Mortgagee therefore, a co-mortgagor or a junior member of the tharawad who continues in possession over the excess share got redeemed is not a mortgagee, after redemption the mortgage comes to an end.....

Current Civil Cases

There is distinction between a redemption by a co-mortgagor and a third party. A third party would definitely step into the shoes of the mortgagee but that is not the case with the co-mortgagor who redeems the mortgage.

2008 0 Supreme(Ker) 68

But, he will get the right of subrogation only if a registered document is executed with the mortgagor subrogating the rights. As regards redemption, foreclosure or sale of the property, the co-mortgagor or persons mentioned in section 91 of the Act will step into the shoes of the mortgagee if he redeems the properties subjected to the mortgage. Third paragraph is applicable to not only the co-mortgagee or persons mentioned in section 91 like sureties or mortgagors, but also to any person who is advancing money to the mortgagor to redeem the property. First two paragraphs a....