Section 65A of Transfer of Property Act - Mortgagor's power to lease

Section 65A Transfer of Property Act Description

A mortgagor in possession of the mortgaged property is not liable to the mortgagee for allowing the property to deteriorate ; but he must not commit any act which is destructive or permanently injurious thereto, if the security is insufficient or will be rendered insufficient by such act.

Explanation. - A security is insufficient within the meaning of this section unless the value of the mortgaged property exceeds by one-third, or, if consisting of building, exceeds by one-half, the amount for the time being due on the mortgage.

Rights and Liabilities of Mortgagee

Click here to read more from the Transfer of Property Act