New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Mortgaged property is leased and the Mortgagor redeems

    the mortgage:
    A He shall get benefits of renewed lease. Correct Answer Incorrect Answer
    B He shall not get benefits of lease. Correct Answer Incorrect Answer
    C Mortgagee only gets the benefit of lease. Correct Answer Incorrect Answer
    D Redemption has no effect on lease. Correct Answer Incorrect Answer
    E Lease transaction is different from mortgage and not affected by it. Correct Answer Incorrect Answer

    Solution

    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.

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