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    Question

    When a mortgaged property is leased and mortgagor

    obtains renewal of lease, mortgagee is_____________.
    A entitled to the lease Correct Answer Incorrect Answer
    B not entitled to the lease. Correct Answer Incorrect Answer
    C not entitled whereas mortgagor is entitled to the lease. Correct Answer Incorrect Answer
    D entitled if there is a specific contract entered into. Correct Answer Incorrect Answer
    E entitled to the premium amount of the lease only. Correct Answer Incorrect Answer

    Solution

    Transfer of Property Actย  S. 71. Renewal of mortgaged lease.โ€” When the mortgaged property is as lease, and the mortgagor obtains a renewal of the lease, the mortgagee, in the absence of a contract to the contrary, shall, for the purposes of the security, be entitled to the new lease.

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