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Under section 92 of the Transfer of Property Act, 1882, which person acquires the mortgagee’s rights by…

Under section 92, a co-mortgagor who fully redeems the common mortgage is subrogated to the redeemed mortgagee’s rights, so far as those rights concern redemption,…

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Under section 92 of the Transfer of Property Act, 1882, which person acquires the mortgagee’s rights by legal subrogation after fully redeeming a mortgage?

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Answer and explanation

Correct answer A

Under section 92, a co-mortgagor who fully redeems the common mortgage is subrogated to the redeemed mortgagee’s rights, so far as those rights concern redemption, foreclosure or sale against the mortgagor or another mortgagee.

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Option A

Section 92 expressly gives legal subrogation to a co-mortgagor who redeems the mortgage in full.

Option B

Section 92 excludes the mortgagor acting in that capacity from the first paragraph’s class of section 91 persons.

Option C

An unsecured creditor without a statutory ground to redeem is outside the class stated in section 91.

Option D

Section 92 requires full redemption before any right of subrogation arises.

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