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Remedy of ‘foreclosure’ is available in which one of the following mortgages?

Section 67 of the Transfer of Property Act, 1882 calls a suit to bar the mortgagor's right to redeem a suit for foreclosure. Clause (a) makes that remedy available to a…

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Remedy of ‘foreclosure’ is available in which one of the following mortgages?

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Answer and explanation

Correct answer C

Section 67 of the Transfer of Property Act, 1882 calls a suit to bar the mortgagor's right to redeem a suit for foreclosure. Clause (a) makes that remedy available to a mortgagee by conditional sale and to an anomalous mortgagee whose mortgage terms confer it. Of the listed mortgages, only a mortgage by conditional sale falls within that rule.

Option feedback

Option A

Section 67(a) does not authorise a usufructuary mortgagee as such to sue for foreclosure or sale.

Option B

A simple mortgagee may seek judicial sale under section 67. Foreclosure is outside the authority given by that section.

Option C

A mortgagee by conditional sale can seek foreclosure under section 67, subject to that section's conditions.

Option D

Section 67(a) gives no right of foreclosure to an English mortgagee. Sale is a distinct remedy.

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