https://www.taxtmi.com/caselaws?id=767103 Gross negligence by a prior mortgagee in dealing with title deeds can postpone priority under Section 78 of the Transfer of Property Act, 1882, where the mortgagor is thereby able to create a later mortgage. The note explains that an equitable mortgage claimed on the basis of a lodgment receipt, without showing proper steps to secure the original title deed, may lose precedence to a subsequent mortgagee who advanced on the original title deeds. The operative principle is that lack of diligence in handling title documents can defeat the earlier mortgagee's priority. en-us Fri, 21 Feb 2025 00:00:00 +0530 Fri, 21 Mar 2025 17:08:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767103 Gross negligence by a prior mortgagee in dealing with title deeds can postpone priority under Section 78 of the Transfer of Property Act, 1882, where the mortgagor is thereby able to create a later mortgage. The note explains that an equitable mortgage claimed on the basis of a lodgment receipt, without showing proper steps to secure the original title deed, may lose precedence to a subsequent mortgagee who advanced on the original title deeds. The operative principle is that lack of diligence in handling title documents can defeat the earlier mortgagee's priority. Case-Laws Indian Laws Fri, 21 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767103