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

    Question

    A mortgagee in possession has the right to

    :
    A spend money for preservation of property. Correct Answer Incorrect Answer
    B spend money to support mortgagor’s title to the property Correct Answer Incorrect Answer
    C spend money to make his own title good against the mortgagor Correct Answer Incorrect Answer
    D A and C. Correct Answer Incorrect Answer
    E A, B and C. Correct Answer Incorrect Answer

    Solution

    Transfer of Property Act  S. 72. Rights of mortgagee in possession .—[A mortgagee] may spend such money as is necessary— (b) for [the preservation of the mortgaged property] from destruction, forfeiture or sale; (c) for supporting the mortgagor's title to the property; (d) for making his own title thereto good against the mortgagor; and (e) when the mortgaged property is a renewable lease-hold, for the renewal of the lease.

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