Conditions for filing Foreclosure Suit

Can a mortgagee file a suit for foreclosure or for sale when the transaction is a usufructuary mortgage?

Answer (1)

Team Legistify

  • Sector-1, Noida

Since only the right to possession is transferred in such a transaction and the mortgagee is supposed to retain possession till the debt is satisfied with the help of rents and profits made available from the land he can neither sue for foreclosure nor for sale.

Answered on 28 Sep 2018


Was this answer helpful?

Yes   No

Didn't find the answer you are looking for?

Talk to experienced lawyer online and get your answered in minutes.

+50