What is the period of limitation under the Limitation Act, 1963 in respect of following documents: (i) Mortgage-foreclosure (ii) Guarantee (iii) Demand promissory note (iv) Mortgage-possession of immoveable property (v)

Answer 4 Documents Period of Limitation (i) Mortgage - foreclosure Twelve years from the money (secured by the mortgage) become due. (ii) A Guarantee Three years from the date of invocation of the guarantee (iii) Demand Promissory Note Three years from the date of DP note (iv) A mortgage - possession of immovable property Thirty years when the mortgagee becomes entitled to possession (v) Money payable for money lent Three years when the loan is made