Answer-When a mortgaged property is leased, mortgagee is________.

Q: Answer-When a mortgaged property is leased, mortgagee is________.

Section 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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When a mortgaged property is leased, mortgagee is________.

Question

When a mortgaged property is leased, mortgagee

is________.

A Entitled to the lease Correct Answer Incorrect Answer

B Entitled if there is a specific contract entered into Correct Answer Incorrect Answer

C Entitled to the premium amount of the lease only Correct Answer Incorrect Answer

D Not entitled whereas mortgagor is entitled to the lease Correct Answer Incorrect Answer

Solution

Section 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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Relevant for Exams:

CBI APP and PP

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