New Click here to Enroll for SIDBI MSME Expert Class by ex-GM, SBI on Nov 24

    Register

    Question

    Right to foreclosure or sale is a right of the:

    A mortgagor Correct Answer Incorrect Answer
    B mortgagee Correct Answer Incorrect Answer
    C creditor of mortgagor Correct Answer Incorrect Answer
    D surety of mortgagor or receiver Correct Answer Incorrect Answer
    E receiver and mortgagee. Correct Answer Incorrect Answer

    Solution

    Transfer of Property Act  S. 67. Right to foreclosure or sale .—In the absence of a contract to the contrary, the mortgagee has, at any time after the mortgage-money has become [due] to him, and before a decree has been made for the redemption of the mortgaged property, or the mortgage-money has been paid or deposited as hereinafter provided, a right to obtain from the Court [a decree] that the mortgagor shall be absolutely debarred of his right to redeem the property, or [a decree] that the property be sold.

    Practice Next

    Relevant for Exams: