Section 92 of The Transfer of Property Act, 1882 in hindi
1[92. Subrogation.-- Any of the persons referred to in section 91 (other than the mortgagor) and any co-mortgagor shall, on redeeming property subject to the mortgage, have, so far as regards redemption, foreclosure or sale of such property, the same rights as the mortgagee whose mortgage he redeems may have against the mortgagor or any other mortgagee. The right conferred by this section is called the right of subrogation, and a person acquiring the same is said to be subrogated to the rights of the mortgagee whose mortgage he redeems. A person who has advanced to a mortgagor money with which the mortgage has been redeemed shall be subrogated to the rights of the mortgagee whose mortgage has been redeemed, if the mortgagor has by a registered instrument agreed that such persons shall be so subrogated. Nothing in this section shall be deemed to confer a right of subrogation on any person unless the mortgage in respect of which the right is claimed has been redeemed in full.]
Summary
- This section establishes the right of subrogation, which means when certain persons pay off a mortgage, they step into the legal shoes and acquire the rights of the original lender.
- Any person listed in Section 91, other than the borrower, as well as any co-borrower, who redeems a mortgaged property gains the original lender's rights regarding redemption, foreclosure, or sale of the property.
- A person who lends money to a borrower to pay off a mortgage also gets the lender's rights if the borrower agrees to this subrogation in writing through a registered document.
- No person can claim the right of subrogation unless the mortgage they paid off has been completely and fully redeemed.
Practical examples
FAQ
1. What is the right of subrogation under Section 92 of the Transfer of Property Act, 1882?
Under Section 92 of the Transfer of Property Act, 1882, subrogation is the legal right of a person who redeems a mortgaged property to step into the shoes of the mortgagee. This person acquires all the rights of the mortgagee regarding redemption, foreclosure, or sale against the mortgagor or other mortgagees.
2. Can a person claim subrogation if they only pay a part of the mortgage under Section 92 of the Transfer of Property Act, 1882?
No, under Section 92 of the Transfer of Property Act, 1882, subrogation cannot be claimed by any person unless the mortgage has been fully and completely redeemed. Partial redemption does not confer any right of subrogation.
3. Can a third party who lends money to pay off a mortgage get subrogation under Section 92 of the Transfer of Property Act, 1882?
Yes, under Section 92 of the Transfer of Property Act, 1882, a third party who advances money to redeem a mortgage gets the right of subrogation if the mortgagor has agreed to this in writing by executing a registered instrument.
4. Does a mortgagor get the right of subrogation when they redeem their own property under Section 92 of the Transfer of Property Act, 1882?
No, Section 92 of the Transfer of Property Act, 1882, explicitly excludes the mortgagor from obtaining the right of subrogation upon redeeming their own mortgage, as it is their own primary liability.
Test yourself
Q1.Under Section 92 of the Transfer of Property Act, 1882, who among the following is explicitly excluded from acquiring the right of subrogation upon redeeming a mortgage?
Q2.Under Section 92 of the Transfer of Property Act, 1882, what is a necessary condition for a person who advances money to a mortgagor to redeem a mortgage to be subrogated to the rights of the redeemed mortgagee?
Q3.Under Section 92 of the Transfer of Property Act, 1882, can a co-mortgagor claim the right of subrogation if they pay off only seventy percent of the outstanding mortgage debt?
Q4.Under Section 91 and Section 92 of the Transfer of Property Act, 1882, if a guarantor listed in Section 91 fully redeems a mortgage, what rights do they gain under Section 92 against the mortgagor?