Transfer of Property Act, 1882 · Chapter IV: Of Mortgages of Immoveable Property and Charges · Rights and Liabilities of Mortgagor
Section 64: Renewal of mortgaged lease
In plain words
If the mortgaged property is a lease and the lender renews it, the borrower gets the benefit of the renewed lease on redemption, unless agreed otherwise.
A simplified explanation, prepared with AI assistance from the official text below and checked automatically against it for numbers and cross-references. The official text is the law and prevails over this summary. Not legal advice.
Official text
Where the mortgaged property is a lease ***, and the mortgagee obtains a renewal of the lease, the mortgagor, upon redemption, shall, in the absence of a contract by him to the contrary, have the benefit of the new lease.
Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.