Mortgager’s powers to lease.

Corporate1989184 sections

Statutory text

(1) Notwithstanding anything contained in 1[the Transfer of Property Act, 1882 (4 of 1882)], or any other law for the time being in force, a mortgagor shall not grant a lease of the mortgaged property for a period exceeding five years.
(2) Any lease granted in contravention of the provisions of sub-section (1) shall be void.

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