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Accession - Difference between section 63 and section 70 of Transfer of Property act.



Section 63 and Section 70 of TPA .

Section 63 and Section 70 of the Transfer of Property Act, 1882 are both related to the accession of mortgaged property, but they have some differences. Here is a brief comparison: 

- Section 63 relates to the accession to mortgaged property, which means any addition or improvement made to the property during the continuance of the mortgage. It lays down the rights and liabilities of the mortgagor and the mortgagee regarding such accession, depending on whether it was acquired at the expense of the mortgagee or not, and whether it is capable of separate possession or enjoyment or not. It also specifies how the profits, if any, arising from the accession should be credited or set off.

- Section 70 relates to the accession made by the mortgagee in good faith to the mortgaged property. It states that the mortgagee is entitled to add the cost of such improvements to the principal money, and to charge interest on it at the same rate as the principal, or at nine per cent per annum, whichever is lower. It also states that the mortgagor may, at the time of redemption, pay the amount of such improvements separately, and retain the improvements with the property.

- Section 63 deals with the accession of mortgaged property in possession of the mortgagee, while Section 70 deals with the accession of mortgaged property in possession of the mortgagor.

- Section 63 gives the right to the mortgagor to claim the accession upon redemption, unless there is a contract to the contrary, while Section 70 gives the right to the mortgagee to claim the accession as an additional security for the mortgage debt, unless there is a contract to the contrary.

- Section 63 also specifies the conditions under which the mortgagor has to pay the expense of acquiring the accession to the mortgagee, and the rights of the mortgagee to set off the profits arising from the accession against the interest payable on the money spent. Section 70 does not mention any such conditions or rights.

Both sections aim to protect the interests of both parties and to ensure that the mortgaged property is maintained and enhanced in value. However, they differ in the nature and extent of the additions or improvements made to the property, and the manner of their adjustment or payment. 

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  1. Disha singh25 December 2023 at 19:32

    The concept of these two provisions is now clear, after reading this blog.

    ReplyDelete

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