Question

    Where the mortgaged property is a lease, and the

    mortgagee obtains a renewal of the lease, the mortgagor, upon redemption, shall
    A Not have the benefit of new lease Correct Answer Incorrect Answer
    B have the option to terminate the lease Correct Answer Incorrect Answer
    C have the benefit of the new lease Correct Answer Incorrect Answer
    D Have the benefit of the new lease, in the absence of a contract to the contrary Correct Answer Incorrect Answer
    E Have the benefit of new lease despite present of contract to the contrary Correct Answer Incorrect Answer

    Solution

    Section 64 of Transfer of Property Act 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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