Which of these types of mortgage ordinarily allows the mortgagee to sue for foreclosure under section…
Section 67 allows the conditional-sale mortgagee to seek a decree barring redemption, subject to the terms and stage requirements in the section. It also recognises…
Choose your answer
Which of these types of mortgage ordinarily allows the mortgagee to sue for foreclosure under section 67 of the Transfer of Property Act, 1882, subject to that section’s conditions?
Answer and explanation
Correct answer B
Section 67 allows the conditional-sale mortgagee to seek a decree barring redemption, subject to the terms and stage requirements in the section. It also recognises foreclosure where the terms of an anomalous mortgage confer that remedy. Among the listed mortgages, the conditional-sale mortgage is the qualifying type.
Option feedback
Option A
A usufructuary mortgagee as such cannot sue for foreclosure under section 67.
Option B
The section expressly recognises a conditional-sale mortgagee as eligible to sue for foreclosure.
Option C
A simple mortgagee’s remedy is by sale, subject to the applicable conditions.
Option D
An English mortgagee is outside the foreclosure classes specified in section 67.
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