New Enroll here to Join NaBFID Analyst Into Class on May 6

    Question

    Which of the following option adds a correct

    explanation/extension of the principle of priority under the Transfer of Property Act ?
    A It is never lost Correct Answer Incorrect Answer
    B It is never lost fully. Correct Answer Incorrect Answer
    C It is lost due to negligence of prior mortgagee. Correct Answer Incorrect Answer
    D It is lost due to negligence of subsequent mortgagee. Correct Answer Incorrect Answer
    E It is lost due to negligence of mortgagor. Correct Answer Incorrect Answer

    Solution

    S. 78 postponement of prior mortgagee. Where, through the fraud, misrepresentation or gross neglect of prior mortgagee, another person has been induced to advance money on the security of the mortgaged property, the prior mortgagee shall be postponed to the subsequent mortgagee.

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