When the mortgagor or such other person as aforesaid has tendered or deposited in Court under section 83 the amount remaining due on the mortgage, interest on the principal money shall cease from the date of the tender or in the case of a deposit, where no previous tender of such amount has been made, as soon as the mortgagor or such other person as aforesaid has done all that has to be done by him to enable the mortgagee to take such amount out of Court, and the notice required by section 83 has been served on the mortgagee:
Provided that, where the mortgagor has deposited such amount without having made a previous tender thereof and has subsequently withdrawn the same or any part thereof, interest on the principal money shall be payable as if no such deposit had been made.
Nothing in this section or in section 83 shall be deemed to deprive the mortgagee of his right to interest when there exists a contract that he shall be entitled to reasonable notice before payment or tender of the mortgage-money and such notice has not been given before the making of the tender or deposit, as the case may be.
Legal Commentary & Landmark Judgments: Section 84
Section 84 mandates the cessation of interest upon a valid deposit made under Section 83, providing that interest on the mortgage debt ceases to run from the date the mortgagee has notice of the deposit.
Ensure the process fee for serving Section 83 notice upon the mortgagee is paid immediately; interest officially freezes on the calendar date the bailiff serves the Section 84 notice.