The Transfer of Property Act, 1882
Section 77. Receipts in lieu of interests.
Nothing in section 76, clauses (b), (d), (g) and (h), applies to cases where there is a contract between the mortgagee and the mortgagor that the receipts from the mortgaged property shall, so long as the mortgagee is in possession of the property, be taken in lieu of interest on the principal money, or in lieu of such interest and defined portions of the principal.
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Cases citing this section
No order or office report we hold cites this section yet.
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