Under Section 58(d) of the Transfer of Property Act, 1882, in a usufructuary mortgage, the mortgagee is…

Under Section 58(d) of the Transfer of Property Act, 1882, in a usufructuary mortgage, the mortgagor delivers (or binds himself to deliver) possession of the mortgaged property to the mortgagee and authorises him to retain such possession until payment of the mortgage-money, and to receive the rents and profits accruing from the property in lieu of interest or in payment of the mortgage-money. As held by the Supreme Court in Singh Ram v. Sheo Ram (2014), a usufructuary mortgagee retains possession until the mortgage-money is paid, and the right of redemption is not extinguished by the mere expiry of 30 years from the date of the mortgage.