520 DR. BABASAHEB AMBEDKAR : WRITINGS AND SPEECHES
Liabilities of the mortgagor
Section 65.
The liabilities consists of certain statutory covenants.
They are warranties for the breach of which the mortgagor is liable.
I. G ENERALLY —
(a) Covenant for title.
(i) There is a title in the mortgagor in the interest transferred.
(ii) That he had the right to transfer.
Substituted Security
Where the owner of an undivided share in a joint and undivided estate mortgages his undivided share, the person who takes the security i.e. the mortgagee takes it subject to the right of these co-sharers to enforce a partition and thereby convert what is an undivided share of the whole into a defined portion held in severally— 11. A. 106. After partition the security will be the separate share allotted in place of the undivided share. Proceed against the share allotted and not against share originally mortgaged.
(a) Covenant to deferred title.
(b) Covenant to pay public dues—if the mortgagee is not in possession.
(c) Covenant to pay prior incumbrance (debt) on its being due.
II. W HEN THE M ORTGAGED PROPERTY IS LEASEHOLD .
(i) Covenant that all conditions have been performed down to the commencement of the mortgage.
(ii) Covenant to pay rent reserved by the lease if the mortgagee is not in possession.
(iii) Covenant to perform all the conditions if the lease is renewed.
These covenants are not personal covenants. They run with the mortgaged property and can be availed of by a transferee from the mortgagee.