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Subject to section 67 of the Transfer of Property Act, 1882, who may seek a decree for foreclosure or…

Section 67 gives the mortgagee the qualified right to seek a decree for foreclosure or sale once the money is due. The available remedy depends on the mortgage and statutory…

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Subject to section 67 of the Transfer of Property Act, 1882, who may seek a decree for foreclosure or sale after the mortgage money becomes due and in the absence of a contract to the contrary?

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Answer and explanation

Correct answer B

Section 67 gives the mortgagee the qualified right to seek a decree for foreclosure or sale once the money is due.

The available remedy depends on the mortgage and statutory restrictions. Section 60 concerns the mortgagor’s redemption right.

Option feedback

Option A

The mortgagor is the party entitled to redeem where section 60 applies.

Option B

Section 67 gives the qualified right to the mortgagee.

Option C

Section 67 does not require a joint application by the parties.

Option D

Only the mortgagee holds the remedy described in section 67.

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