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    Question

    Under Section 114 of the Transfer of Property Act, 1882

    (Rights of Mortgagor), a mortgagor can:
    A Transfer the mortgaged property free of the mortgage Correct Answer Incorrect Answer
    B Sell the mortgaged property with the mortgagee's consent Correct Answer Incorrect Answer
    C Become a mortgagee himself of the same property Correct Answer Incorrect Answer
    D Enjoy the mortgaged property subject to the mortgagee's rights Correct Answer Incorrect Answer
    E Prevent the mortgagee from selling the property Correct Answer Incorrect Answer

    Solution

    Section 114 provides that the mortgagor retains ownership of the mortgaged property and can enjoy and use it, subject to the mortgagee's rights. The mortgagor may also create subsequent mortgages (second mortgages) on the same property. Section 60 grants the mortgagee the right to take possession if the mortgagor defaults. The mortgagor cannot transfer the property free of the mortgage without the mortgagee's release. [Citation: Sections 59-60 and 114, Transfer of Property Act, 1882]

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