New RBI Grade B 2025 Notification will come Soon! Enroll Here

    Question

    Right to foreclosure and sale can be

    exercised:
    A When the mortgage-money has become due. Correct Answer Incorrect Answer
    B When mortgage-money has become due and before decree for redemption has been passed. Correct Answer Incorrect Answer
    C When mortgage-money has become due and before suit for redemption has been filed. Correct Answer Incorrect Answer
    D B and before mortgage- money has been paid or deposited. Correct Answer Incorrect Answer

    Solution

    Section 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