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Which provision of the Transfer of Property Act, 1882 embodies the mortgagor’s general right to redeem,…

Section 60 protects the general right to redeem. A mortgage remains security subject to redemption unless that right has been lawfully extinguished.

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Which provision of the Transfer of Property Act, 1882 embodies the mortgagor’s general right to redeem, reflected in the maxim “once a mortgage, always a mortgage”?

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Answer and explanation

Correct answer B

Section 60 protects the general right to redeem. A mortgage remains security subject to redemption unless that right has been lawfully extinguished.

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Option A

Section 59 sets out formalities for effecting a mortgage in the cases it specifies.

Option B

Section 60 confers the general right to redeem once the principal money has become due, on payment or tender, subject to lawful extinction of that right.

Option C

Section 61 deals with separate or simultaneous redemption of multiple mortgages in the circumstances stated there.

Option D

Section 62 concerns recovery of possession by a usufructuary mortgagor.

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