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, Samvat 1977, 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. 110 CO-OPERATIVE SOCITIES ACT, 1989. (2) Any lease granted in contravention of the provisions of sub-section (1) shall be void.