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

    Register

    Question

    A mortgagee in possession has the right to

    ____________________-
    A Spend money for preservation of property. Correct Answer Incorrect Answer
    B Spend money to support mortgagor’s title to the property Correct Answer Incorrect Answer
    C Spend money to make his own title good against the mortgagor Correct Answer Incorrect Answer
    D All a, b & c. Correct Answer Incorrect Answer

    Solution

    Transfer of Property Act Section 72. Rights of mortgagee in possession—A mortgagee may spend such money as is necessary— (b) for the preservation of the mortgaged property from destruction, forfeiture or sale; (c) for supporting the mortgagor's title to the property; (d) for making his own title thereto good against the mortgagor; and (e) when the mortgaged property is a renewable lease-hold, for the renewal of the lease.

    Practice Next