TPA Section 134: Mortgaged debt
Transfer of Property Act, 1882 · Chapter 8: Transfers of actionable claims
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134. Mortgaged debt.—Where a debt is transferred for the purpose of securing an existing or future debt, the debt so transferred, if received by the transferor or recovered by the transferee, is applicable, first, in payment of the costs of such recovery: secondly, in or towards satisfaction of the amount for the time being secured by the transfer; and the residue, if any, belongs to the transferor or other person entitled to receive the same.
Official reference: Government of India reference, hosted by Andhra Pradesh High Court — checked: 30 September 2026.Central reference text reproduced from the linked government PDF, with footnotes and separately labelled state amendments left in the original. It includes the 2001/2003 changes and the 2019 territorial-extension note. The checking date is not a certification that every state rule is current. Consult the original schedule, territorial notifications and applicable state law separately.Read the original schedule and amendment notes
This text is for reference, not legal advice. Consult the official source for the authoritative text.
Other sections in this chapter
- 130. Transfer of actionable claim
- 130A. Transfer of policy of marine insurance
- 131. Notice to be in writing, signed
- 132. Liability of transferee of actionable claim
- 133. Warranty of solvency of debtor
- 135. Assignment of rights under policy of insurance against fire
- 135A. Assignment of rights under policy of marine insurance
- 136. Incapacity of officers connected with courts of justice
- 137. Saving of negotiable instruments, etc