Transfer of Property Act, 1882
Any mortgagee of, or person having a charge upon, immoveable property, or any transferee from such mortgagee or charge-holder, may purchase or otherwise acquire the rights in the property of the mortgagor or owner, as the case may be, without thereby causing the mortgage or charge to be merged as between himself and any subsequent mortgagee of, or person having a subsequent charge upon, the same property; and no 1. Subs. b y Act 20 o f 1929, s . 48, for s. 95. Or i gin al s. 96 wa s rep. b y Act 5 o f 1908, s . 156 and S ch. V . 2. For the repealed provisions, as re-enacted, see (Act 5 of 1908), Sch. I, Order XXX IV , rules 12 and 13. such subsequent mortgagee or charge-holder shall be entitled to for close or sell such property without redeeming the prior mortgage or charge, or otherwise than subject thereto.] Notice and Tender