Transfer of Property Act Section 95 — Right of redeeming co-mortgagor to expenses

CHAPTER IV OF MORTGAGES OF IMMOVEABLE PROPERTY AND CHARGES — Redemption

General

Summary

If one of several co-owners of a mortgaged property pays off the entire mortgage to redeem it, that person can later claim a share of the redemption costs from the other co-owners. Specifically, when enforcing the right to step into the lender's shoes against the co-owners, the redeeming owner can add to the amount owed by the others a fair portion of the expenses that were properly spent to redeem the property. That portion is based on the share of the property each co-owner holds.

Official Text

Where one of several mortgagors redeems the mortgaged property, he shall, in enforcing his right of subrogation under section 92 against his co-mortgagors, be entitled to add to the mortgage-money recoverable from them such proportion of the expenses properly incurred in such redemption as is attributable to their share in the property.