Section 66State of Jammu-Kashmir Act
Section 66: Waste by mortgagor in possession
Waste by mortgagor in possession.
- 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 MortgageePrevious
Sec 65A — [ Mortgagor's power to lease. [Section 65-A added Act VI of Samvat 1996.]
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Sec 67 — Right to foreclosure or sale
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