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Purchase of Mortgaged Property

J.P. Builders v/s A.R. Rao
2011 (1) SCC 429 : 2011 (3) AWC 2698 : 2011 AIR (SO 230 2011 (2) ARC 716 : 2011 (1) SCC (Civ.) 227
T.P. Act(1882 – Ss. 56 & 81 – Doctrine of Marshaling – Parties entered into contract of sale and purchase of property which was already mortgaged – suit by vendee against vendor and Bank decreed – Held, doctrine of marshaling available to subsequent purchasers in view of provisions of
S. 81 of the Act which are attracted to sales and also to mortgages – Doctrine of Marshalling applicable in absence of pleading, as it is pure question of law – Enactments like recovery of debts due to Banks and Financial institutions Act, 1993 not bar for applying doctrine of Marshalling – Plea that other property of debtor is available, no ground to not to apply doctrine of marshalling

Categories: PropertyTags: ,

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