62: Right of usufructuary mortgagor to recover possession

Right of usufructuary mortgagor to recover possession.—In the case of a usufructuary mortgage, the mortgagor has a right to recover possession of the property [together with the mortgage deed and all documents relating to the mortgaged property which are in the possession or power of the mortgage], (a) where the mortgagee is authorized to pay himself the mortgage money from the rents and profits of the property, when such money is paid; (b) where the mortgagee is authorized to pay himself from such rents and profits [or any part thereof a part only of the mortgage money]—when the term, if any, prescribed for the payment of the mortgage money has expired and the mortgagor pays or tenders to the mortgagee [the mortgage money or the balance thereof] or deposits it in Court as hereinafter provided.

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