Conditions For Filing Foreclosure Suit

Can a mortgagee file a suit for foreclosure or for sale when the transaction is a usufructuary mortgage?
Posted 1 year ago  | 
Debt Recovery,Property/Real Estate
Debt Recovery Property/Real Estate

1 Answer(s)

Harshit Bhurani
Advocate

Since only the right to possession is transferred in such a transaction and the mortgagee is supposed to retain possession till the debt is satisfied with the help of rents and profits made available from the land he can neither sue for foreclosure nor for sale.