New 👉 Ask your RBI Grade B 2025 Preparation Queries Here!!

    Question

    When the mortgaged property is on lease, then______

    A mortgagee is only entitled to it’s renewal. Correct Answer Incorrect Answer
    B mortgagor is entitled to benefit of lease after renewal. Correct Answer Incorrect Answer
    C mortgagor is not entitled to benefit of lease. Correct Answer Incorrect Answer
    D mortgagor is entitled to benefit of lease after renewal upon redemption. Correct Answer Incorrect Answer

    Solution

    As per Transfer of Property act, 1882- S. 64. Renewal of mortgaged lease. —Where the mortgaged property is a lease  and  the mortgagee obtains a renewal of the lease, the mortgagor, upon redemption, shall, in the  absence of a contract by him to the contrary, have the benefit of the new lease.

    Practice Next