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Under the Transfer of Property Act, 1882, who can exercise the right of redemption and who can seek…

Section 60 gives the mortgagor the right to redeem, subject to its conditions. Section 67 allows a qualifying mortgagee to seek a decree of foreclosure in the absence of a…

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Under the Transfer of Property Act, 1882, who can exercise the right of redemption and who can seek foreclosure, respectively, when the statutory conditions for each are met?

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Answer and explanation

Correct answer B

Section 60 gives the mortgagor the right to redeem, subject to its conditions.

Section 67 allows a qualifying mortgagee to seek a decree of foreclosure in the absence of a contract to the contrary.

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Option A

Section 60 assigns redemption to the mortgagor. Section 67 places a qualifying foreclosure remedy with the mortgagee.

Option B

The mortgagor may redeem under section 60. A mortgagee entitled to foreclosure may seek a decree under section 67.

Option C

For the same mortgage, the mortgagee holds the security. The mortgagor has the right to redeem that mortgage.

Option D

A foreclosure decree bars the mortgagor's redemption at the request of an eligible mortgagee.

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