CONTRIBUTION
1. Suppose two properties are mortagaged and they belong to different persons. Suppose for the relization of the mortgage money only one property is sold and the proceeds are found to be sufficient to pay the amount. The result is that one mortgagor has lost his property while the other gets it back without having to pay any thing.
This is a gross injustice. To remedy this injustice Equity invented the doctrine of Contribution which is embodied in Section 82.
2. According to this Section, the different owners are liable to contribute rateably to the debt secured by the mortage.
3. For determining the rate at which each should contribute the value therfore shall be taken as the value at the date of the mortgage deducting the amount of mortgage, if any, to which it was subject on that date.
1. The claim for contribution can arise only when the whole of the mortgage debt has been satisfied—26 All. 407 (426, 27) T.B.
2. The right to contribution is subject to the rule of marshalling. That is where marshalling comes into conflict with contibution, the rule of marshalling shall prevail—This is the meaning of the last para of Section 82.
WHO CAN CLAIM THE RIGHTS OF THE MORTGAGOR
Section 91.
HOW CAN CLAIM THE RIGHTS OF THE MORTAGAGEE
Section 92.
Any person other than the mortgagor who pays the mortgagee becomes entitled to the rights of the mortgagee.
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