Section 60. Right of mortgagor to redeem

60. Right of mortgagor to redeem. Redemption of portion of mortgaged property. - 60A.Obligation to transfer to third party instead of re-transference to mortgagor. - 60B. Right to inspection and production of documents. 61. Right to redeem separately or simultaneously. 62. Right of usufructuary mortgagor to recover possession. 60. Right of mortgagor to redeem.— At any time after the principal money has become[9] [due], the mortgagor has a right, on payment or tender, at a proper time and place, of the mortgagemoney, to require the mortgagee (a) to deliver[10] [to the mortgagor the mortgage-deed and all documents relating to the mortgaged property which are in the possession or power of the mortgagee], (b) where the mortgagee is in possession of the mortgaged property, to deliver possession thereof to the mortgagor, and (c) at the cost of the mortgagor either to re-transfer the mortgaged property to him or to such third person as he may direct, or to execute and (where the mortgage has been effected by a registered instrument) to have registered an acknowledgement in writing that any right in derogation of his interest transferred to the mortgagee has been extinguished: Provided that the right conferred by this section has not been extinguished by act of the parties or by 11[decree] of a Court. The right conferred by this section is called a right to redeem and a suit to enforce it is called a suit for redemption. Nothing in this section shall be deemed to render invalid any provision to the effect that, if the time fixed for payment of the principal money has been allowed to pass or no such time has been fixed, the mortgagee shall be entitled to reasonable notice before payment or tender of such money. 1. Added by Act 20 of 1929, s. 19. 2. Subs. by A.O. 1948, for "Bombay and Karachi". The word "and" had been ins. by A.O. 1937. 3. The words "Rangoon, Moulmein, Bassein and Akyab" omitted by A.O. 1937. 4. The words "Governor General in Council" successively amended by A.O. 1937 and the A.O. 1950 to read as above. 5. Ins. by Act 20 of 1929, s. 20. 6. Subs. by Act 6 of 1904, s. 3, for "an instrument".