Current Affairs · Banking and Financial Laws
Consider the following statements regarding mortgages under the Transfer of Property Act: Statement I: In a Simple Mortgage, the mortgagee has no right to possession of the property and must approach the court for the sale of the property in case of default. Statement II: An English Mortgage involves an absolute transfer of property to the mortgagee with a proviso that it will be re-transferred upon payment of the debt. Statement III: In a Mortgage by Conditional Sale, the mortgagor personally binds himself to pay the mortgage money and delivers possession to the mortgagee. Which of the statements given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1I, II and III
- 2Only II and III
- 3Only I and II✓
- 4Only I
Correct answer
Only I and II
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Current Affairs?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Banking and Financial Laws MCQs →Want more practice questions on Banking and Financial Laws?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Current Affairs · Banking and Financial Laws