Question

Mortgaged property is leased and the Mortgagor redeems

Q: Answer-Mortgaged property is leased and the Mortgagor redeems the mortgage:

S. 64. Renewal of mortgaged lease.Where the mortgaged property is a lease and the mortgagee obtains a renewal of the lease, the mortgagor, upon redemption, shall, in the absence of a contract by him to the contrary, have the benefit of the new lease.

the mortgage:

A He shall get benefits of renewed lease.

B He shall not get benefits of lease.

C Mortgagee only gets the benefit of lease.

D Redemption has no effect on lease.

E Lease transaction is different from mortgage and not affected by it.

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Mortgaged property is leased and the Mortgagor redeems

Solution