Question
Legal Studies Question on Property Law
Subrogation under Section 92, Transfer of Property Act, 1882 confers a right upon a person only wherein mortgaged property has been:
A
Redeemed in full
B
Consented to be redeemed in full
C
Redeemed in part
D
None of the above
Answer
Redeemed in full
Explanation
Solution
Section 92 of the Transfer of Property Act, 1882, allows a person who has paid off the mortgage debt to step into the shoes of the mortgagee and seek a remedy. However, this right of subrogation arises only when the mortgaged property has been redeemed in full.