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Under sections 60 and 67 of the Transfer of Property Act, 1882, which pairing gives the ordinary…

Section 60 gives the mortgagor the right to redeem. Section 67 allows a mortgagee to seek foreclosure where the remedy is available for that mortgage and the statutory…

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Under sections 60 and 67 of the Transfer of Property Act, 1882, which pairing gives the ordinary allocation of redemption and foreclosure rights between the parties to a mortgage?

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Answer and explanation

Correct answer A

Section 60 gives the mortgagor the right to redeem. Section 67 allows a mortgagee to seek foreclosure where the remedy is available for that mortgage and the statutory conditions are met. Foreclosure is available to a mortgagee by conditional sale or under an anomalous mortgage that confers the right.

Option feedback

Option A

Section 60 gives redemption to the mortgagor. Section 67 gives the qualifying mortgagee the foreclosure remedy.

Option B

The two statutory roles are reversed.

Option C

The mortgagor has the right of redemption. The right to seek foreclosure belongs to an eligible mortgagee.

Option D

An eligible mortgagee may seek foreclosure. The right of redemption belongs to the mortgagor.

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