Charges.
- Where immovable property of one person is by act of parties or operation of law made security for the payment of money to another, and the transaction does not amount to a mortgage, the latter person is said to have a charge on the property; and all the provisions hereinbefore contained [which apply to a simple mortgage shall, so far as may be, apply to such charge.] [In section 100 words in 1st brackets substituted ibid for the words 'as to a mortgagor shall, so far as may be, apply to the owner of such property, and the provisions of sections 81 and 82 shall so far as may be, apply to the persons having such charge.]Nothing in this section applies to the charge of a trustee on the trust property for expenses properly incurred in the execution of his trust, [and, save as otherwise expressly provided by any law for the time being in force, no charge shall be enforced against any property in the hands of a person to whom such property has been transferred for consideration and without notice of the charge.] [Added by Act VI of 1996.]Previous
Sec 99 —
Next
Sec 101 — [ No merger in case of subsequent encumbrances. [Section 101 substituted by Act VI of 1996.]
Disclaimer: This section is reproduced for general informational and reference purposes only. Always verify against the latest official gazette and consult a qualified advocate before relying on any provision.