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Effect of Insufficient recovery from attached property

What happens if the sale proceeds from the mortgaged property is not sufficient to satisfy the debt?

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Team Legistify

Team Legistify

  • Answered on 02:22 PM, 28 Sep 18

If the net income from the sale of the mortgaged property is not enough to satisfy the debt a personal decree will be passed against the mortgagor and he will be held personally liable to satisfy the balance amount.

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