Transfer of encumbrances

General197632 sections

Statutory text

(1) Where any land held by a displaced person in an affected zone is burdened with a mortgage, debt or any other encumbrance, such mortgage, debt or other encumbrance shall be deemed to be transferred therefrom and attach itself to the land granted to such displaced person under section 23, and the mortgagee, creditor or, as the case may be, other encumbrancer shall exercise his rights, accordingly.
(2) If the land to which a mortgage, debt or other encumbrance is transferred under sub-section
(1) is of less market value than the original land from which it is transferred, the mortgagee, creditor or, as the case may be, other encumbrancer shall be entitled to payment of such compensation by the displaced person owning the land as may be determined by the Deputy Director.

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