Limitation To Redeem Usufructuary Mortgage Runs From Payment Of Mortgage Money, Not Date Of Mortgage Deed: Allahabad High Court

The Allahabad High Court has held that limitation for a suit to redeem usufructuary mortgage or recover possession begins to run only when the mortgagor pays or tenders the mortgage money and not from the date on which the mortgage deed is executed.A usufructuary mortgage is one where the mortgagor hands over possession to the mortgagee, who keeps the rents and profits in lieu of interest…