What is the legal effect of a term in a mortgage that constitutes a clog on the mortgagor's right of…
Section 60 protects the mortgagor's right to redeem upon payment or tender of the mortgage money when due. A term that constitutes a clog on that right is void.
Choose your answer
What is the legal effect of a term in a mortgage that constitutes a clog on the mortgagor's right of redemption?
Answer and explanation
Correct answer A
Section 60 protects the mortgagor's right to redeem upon payment or tender of the mortgage money when due. A term that constitutes a clog on that right is void.
Option feedback
Option A
A term that clogs the statutory right of redemption is void.
Option B
A clog is void rather than merely voidable at the mortgagor's option.
Option C
The restriction is invalid. The timing of payment does not suspend the restriction.
Option D
Notice to the mortgagor cannot make a clog enforceable.
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