In mortgage law under the Transfer of Property Act, 1882, what gives rise to legal subrogation when a…
Section 92 confers subrogation by operation of law on the specified persons who fully redeem a mortgage. It separately provides for subrogation of an advance lender if the…
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In mortgage law under the Transfer of Property Act, 1882, what gives rise to legal subrogation when a person entitled under section 92 redeems the mortgage in full?
Answer and explanation
Correct answer B
Section 92 confers subrogation by operation of law on the specified persons who fully redeem a mortgage. It separately provides for subrogation of an advance lender if the mortgagor has agreed to it by a registered instrument and the statutory conditions are met.
Option feedback
Option A
An oral agreement is not what creates the legal subrogation conferred by section 92.
Option B
When the statutory requirements are met, legal subrogation follows by operation of law.
Option C
An agreement in a registered instrument can support conventional subrogation where the statutory conditions are met. Legal subrogation rests on the statute itself.
Option D
A local custom among mortgagees is not the source of the statutory right.
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