Central Act
78
Section 78. Postponement of prior mortgagee.
The Transfer of Property Act, 1882
In forceAll India (Central Act)
78. Postponement of prior mortgagee. Where, through the fraud, misrepresentation or gross neglect of a prior mortgagee, another person has been induced to advance money on the security of the mortgaged property, the prior mortgagee shall be postponed to the subsequent mortgagee.