An Act to amend the law relating to the transfer of property by act of ...

(1) Where mortgaged property in possession of the mortgagee has, during the continuance of
the mortgage, been improved, the mortgagor, upon redemption, shall, in the absence of a contract
to the contrary, be entitled to the improvement; and the mortgagor shall not, save only in cases
provided for in sub-section (2), be liable to pay the cost thereof.
(2) Where any such improvement was effected at the cost of the mortgagee and was necessary
to preserve the property from destruction or deterioration or was necessary to prevent the
security from becoming insufficient, or was made in compliance with the lawful order of any
public servant or public authority, the mortgagor shall, in the absence of a contract to the
contrary, be liable to pay the proper cost thereof as an addition to the principal money with
interest at the same rate as is payable on the principal, or, where no such rate is fixed, at the rate
of nine per cent per annum, and the profits, if any, accruing by reason of the improvement shall
be credited to the mortgagor.
64. Renewal of mortgaged lease
Where mortgaged property is a lease, and the mortgagee obtains a renewal of the lease, the
mortgagor, upon redemption, shall, in the absence of a contract by him to the contrary, have the
benefit of the new lease.
65. Implied contracts by mortgagor
In the absence of a contract to the contrary, the mortgagor shall be deemed to contract with the
mortgagee,-
(a) that the interest which the mortgagor professes to transfer to the mortgagee subsists, and
that the mortgagor has power to transfer the same;
(b) that the mortgagor will defend, or, if the mortgagee be in possession of the mortgaged
property, enable him to defend, the mortgagor's title. thereto;
(c) that the mortgagor will, so long as the mortgagee is not in possession of the mortgaged
property, pay all public charges accruing due in respect of the property;
(d) and, where the mortgaged property is a lease, that the rent payable under the lease, the
conditions contained therein, and the contracts binding on the lessee have been paid, performed
and observed down to the commencement of the mortgage; and that the mortgagor will, so long
as the security exists and the mortgagee is not in possession of the mortgaged property, pay the
rent reserved by the lease, or, if the lease be renewed, the renewed lease, perform the conditions
contained therein and observe the contracts binding on the lessee, and indemnify the mortgagee
against all the claims sustained by reason of the non-payment of the said rent or the nonperformance
or non-observance of the said conditions and contracts;
(e) and, where the mortgage is a second or subsequent encumbrance on the property, that the
mortgagor will pay the interest from time to time accruing due on such prior encumbrance as and