Question

    When a mortgaged property is leased and mortgagor

    obtains renewal of lease, mortgagee is_____________.
    A entitled to the lease Correct Answer Incorrect Answer
    B not entitled to the lease. Correct Answer Incorrect Answer
    C not entitled whereas mortgagor is entitled to the lease. Correct Answer Incorrect Answer
    D entitled if there is a specific contract entered into. Correct Answer Incorrect Answer
    E entitled to the premium amount of the lease only. Correct Answer Incorrect Answer

    Solution

    Transfer of Property Act  S. 71. Renewal of mortgaged lease.— When the mortgaged property is as lease, and the mortgagor obtains a renewal of the lease, the mortgagee, in the absence of a contract to the contrary, shall, for the purposes of the security, be entitled to the new lease.

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