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The mortgage money is due and remains unpaid or undeposited, and no redemption decree has been made.…

Section 60 governs the mortgagor's right to redeem after the principal money becomes due. In the absence of a contrary contract, section 67 permits an eligible mortgagee to…

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The mortgage money is due and remains unpaid or undeposited, and no redemption decree has been made. Subject to the terms and type of mortgage, what may an eligible mortgagee seek under section 67 of the Transfer of Property Act, 1882?

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Answer and explanation

Correct answer A

Section 60 governs the mortgagor's right to redeem after the principal money becomes due. In the absence of a contrary contract, section 67 permits an eligible mortgagee to obtain a decree for foreclosure or sale, as applicable, after the mortgage money becomes due and before a redemption decree or statutory payment or deposit. The available remedy depends on the mortgage type and the other limits in section 67.

Option feedback

Option A

Section 67 provides a right to seek foreclosure or sale of the mortgaged property subject to the mortgage type and other statutory limits.

Option B

Section 67 concerns foreclosure or sale of the mortgaged property. Section 68 separately addresses suits for mortgage money.

Option C

Redemption is the mortgagor's right under section 60, subject to the conditions in that section.

Option D

A decree for sale under section 67 concerns the property securing the mortgage.

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