Under Section 67 of the Transfer of Property Act, 1882, the remedies available to a mortgagee by suit…
Section 67 deals with decrees for foreclosure or sale, subject to the terms of the mortgage and the restrictions for particular mortgage types. The right arises after the…
Choose your answer
Under Section 67 of the Transfer of Property Act, 1882, the remedies available to a mortgagee by suit are:
Answer and explanation
Correct answer A
Section 67 deals with decrees for foreclosure or sale, subject to the terms of the mortgage and the restrictions for particular mortgage types. The right arises after the money is due and before a redemption decree or payment or deposit of the mortgage money.
Option feedback
Option A
Correct. Section 67 of the Transfer of Property Act, 1882 is titled 'Right to foreclosure or sale' and provides that, 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, a right to obtain from the Court a decree that the mortgagor shall be absolutely debarred of his right to redeem the property (foreclosure), or a decree that the property be sold (sale).
Option B
Incorrect. Section 67 of the Transfer of Property Act, 1882 is not confined to a suit for sale alone; depending on the nature of the mortgage, it provides for a decree for foreclosure or for sale.
Option C
Incorrect. Appointment of a receiver by a mortgagee having power of sale without intervention of the Court is governed by Section 69A of the Transfer of Property Act, 1882 (or Order XL Rule 1 CPC as an interim measure), not as the substantive suit remedy under Section 67.
Option D
Incorrect. Redemption of the mortgaged property under Section 60 is the remedy of the mortgagor, whereas Section 67 provides the mortgagee's suit remedies for foreclosure or for sale.
Practice for these exams
-
All India Bar Examination (AIBE)
Subject revision
See pack details on LawMint.net -
IIT Kharagpur LL.M. Entrance
Subject revision
See pack details on LawMint.net -
Assam Higher Judicial Service
-
CLAT PG
Subject revision for a passage-based exam
-
CUET PG Law (LL.M.)
Subject revision
-
AILET PG
Subject revision
-
Bihar Judicial Services
Subject revision
-
Uttarakhand Judicial Services
Subject revision