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Under section 67 of the Transfer of Property Act, 1882, which mortgage type gives the mortgagee a right…

Section 67 permits a mortgagee by conditional sale to sue for foreclosure when the statutory conditions are met. An anomalous mortgagee may also do so where the mortgage…

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Under section 67 of the Transfer of Property Act, 1882, which mortgage type gives the mortgagee a right to sue for foreclosure when the statutory conditions are met?

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Correct answer B

Section 67 permits a mortgagee by conditional sale to sue for foreclosure when the statutory conditions are met. An anomalous mortgagee may also do so where the mortgage terms confer that right.

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Option A

A usufructuary mortgagee as such is not authorised to institute a foreclosure suit.

Option B

A mortgagee by conditional sale is within the foreclosure class in section 67.

Option C

A simple mortgagee can seek sale, but does not have the foreclosure remedy under section 67.

Option D

An English mortgage is not within the foreclosure class in section 67.

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