Amendment status not verified — confirm the current text below against the official source.
Mortgagor's powers to lease.- (1) Notwithstanding anything contained in the Transfer of Property Act, 1882 (Central Act IV of 1882), or any other law for the time being in force, a mortgagor shall not grant a lease of the mortgaged property for a period exceeding five years. (2) Any lease granted in contravention of the provisions of sub- section (1) shall be void.