62Right of usufructuary mortgagor to recover possession.
Section 62 · Chapter IV · Rights and Liabilities of Mortgagor · page 25 of the Act
In the case of a usufructuary mortgage, the mortgagor has a right to recover possession of the property 4[together with the mortgage-deed and all documents relating to the mortgaged property which are in the possession or power of the mortgagee],—
(a) where the mortgagee is authorised to pay himself the mortgage-money from the rents and profits of the property.—when such money is paid:
(b) where the mortgagee is authorised to pay himself from such rents and profits 5[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 6[the mortgage-money or the balance thereof] or deposits it in Court as hereinafter provided.
4 Ins. by Act 20 of 1929, s. 25
5 Subs. by Act 20 of 1929, s. 25, for “the interest of the principal money”.
6 Subs. by Act 20 of 1929, s. 25, for “the principal money”.