A mortgagee sues to enforce the mortgage by sale of the mortgaged property and recover the mortgage money. Under Article 62 of the Limitation Act, 1963, the period of limitation for such a suit is:

Article 62 of the Schedule to the Limitation Act provides a period of TWELVE YEARS for a suit by a MORTGAGEE to enforce payment of the money secured by a mortgage of immovable property, computed from the date when the money becomes due. The long period reflects the nature of mortgage security and the mortgagee's right to sue on the debt secured. Suits based on title to immovable property (Article 65) also carry twelve years. Money claims on contract (Article 55) generally carry three years, but the mortgage enforcement claim has its own longer, specific Article 62 period.