The 39 Doctrine of Consolidation 39 which is based on the maxim 39 He who seeks equity must do equit...........

Transfer of Property Act Mortgage

The 'Doctrine of Consolidation' which is based on the maxim 'He who seeks equity must do equity' is laid down in which section of the T P Act

Sec 61.

Sec 62.

Sec 63.

Sec 64.

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Explanation:

Sec 61.

The Doctrine of Consolidation of Mortgages- where a borrower has mortgaged different properties to secure separate debts, and he defaults on one of those debts, this doctrine allows for the lender to pool the assets which were secured by the borrower and to realise those secured assets against the total sum owing and this is provided in section 61 of the act.

According to Section 61. Right to redeem separately or simultaneously.—A mortgagor who has executed two or more mortgages in favour of the same mortgagee shall, in the absence of a contract to the contrary, when the principal money of any two or more of the mortgages has become due, be entitled to redeem any one such mortgage separately, or any two or more of such mortgages together.