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

    Question

    Marshaling can be made by:

    A Subsequent purchaser Correct Answer Incorrect Answer
    B Owner Correct Answer Incorrect Answer
    C First Mortgagor Correct Answer Incorrect Answer
    D First mortgagee Correct Answer Incorrect Answer
    E Both A and D Correct Answer Incorrect Answer

    Solution

    S. 56. Marshalling by subsequent purchaser.—If the owner of two or more properties mortgages them to one person and then sells one or more of the properties to another person, the buyer is, in the absence of a contract to the contrary, entitled to have the mortgage-debt satisfied out of the property or properties not sold to him, so far as the same will extend, but not so as to prejudice the rights of the mortgagee or persons claiming under him or any other person who has for consideration acquired an interest in any of the properties.

    Practice Next