Where a Property is Mortgaged, the Mortgagor may – (i) Redeem or recover possession of immovable property mortgaged, within thirty years from the date, when the right to redeem or to recover possession accrues, under Article 61(a) of the Indian Limitation Act, 1963; (ii) Recover possession of immovable property mortgaged, where afterwards the Mortgaged property is transferred by the mortgagee for a valuable consideration, within twelve years, from the date when the said transfer becomes known to the Mortgagor, under Article 61(b) of the Indian Limitation Act, 1963; (iii) Recover surplus collection received by the mortgagee after the mortgage has been satisfied, within three years from the date when the mortgagor re-enters upon the mortgaged property, under Article 61(c) of the Indian Limitation Act, 1963.
