In case of usufructuary mortgage, the mortgagee:

Option A: Is delivered with the possession of the mortgaged property but not authorise to appropriate the rents and profits accuring from the property.

Option B: Is authorised to appropriate the rents and profits accruing from the property but not delivered the possession of the property.

Option C: Is delivered with the possession and is authorised to appropriate the rents and profits accruing the property.

Option D: Is not delivered with the possession of the mortgaged property but has the right to sell that property to recover the money he advanced.

Correct Answer

Option: c

Explanation

A usufructuary mortgage is a contract where the borrower transfers possession and usage rights of a property to the lender while retaining ownership. The lender, known as the mortgagee, is granted the right to enjoy the income or produce generated by the property during the mortgage period.

Sample Mock Tests for Practice

AILET – National Law University Delhi Entrance Test (NLU 2013)

AILET – National Law University Delhi Entrance Test (NLU 2020)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 17 Q. NO. 641 TO 680)

THE HINDU ADOPTION AND MAINTENANCE ACT, 1956 (PAPER 02 Q. NO. 31 TO 39)

THE CODE OF CRIMINAL PROCEDURE, 1973 (PAPER – 14 Q. NO. 521 TO 560)

THE CONSTITUTION OF INDIA, 1949 (PAPER – 05 Q. NO. 141 TO 175)

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THE ARBITRATION AND CONCILIATION ACT, 1996 (PAPER 04 Q. NO. 91 TO 116)

HIMACHAL PARDESH LOWER JUDICIAL SERVICES 2011

THE LAW OF TORTS (PAPER 02 Q. NO. 46 TO 90)

HIMACHAL PARDESH LOWER JUDICIAL SERVICES 2015

THE CODE OF CRIMINAL PROCEDURE, 1973 (PAPER – 06 Q. NO. 201 TO 240)

DELHI LOWER JUDICIAL SERVICES 2022

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 11 Q. NO. 401 TO 440)

The Hindu Marriage Act, 1955 (Paper 02: Q. 26 TO 50)

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 06 Q. NO. 201 TO 240)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 06 Q. NO. 201 TO 240)

THE COMMERCIAL COURTS ACT, 2015 (PAPER 01 Q. NO. 1 TO 12)

THE SALE OF GOODS ACT, 1930 (PAPER – 01 Q. NO. 1 TO 35)

CLAT 2023

THE HIMACHAL PRADESH URBAN RENT CONTROL ACT, 1987 (PAPER 01 Q. NO. 1 TO 30)

THE CODE OF CIVIL PROCEDURE, 1908 (PAPER – 08 Q. NO. 281 TO 320)

THE TRANSFER OF PROPERTY ACT, 1882 (PAPER 09 Q.NO. 321 TO 345)

JHARKHAND LOWER JUDICIAL SERVICES 2019

MADHYA PARDESH LOWER JUDICIAL SERVICES 2021

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 03 Q. NO. 81 TO 120)

THE JUVENILE JUSTICE (CARE AND PROTECTION OF CHILDREN) ACT, 2000 (PAPER 01 Q. NO. 1 TO 13)

HIMACHAL PARDESH LOWER JUDICIAL SERVICES 2014

THE CONSTITUTION OF INDIA, 1949 (PAPER – 15 Q. NO. 491 TO 525)

BIHAR LOWER JUDICIAL SERVICES EXAM 2020

THE INDIAN EVIDENCE ACT, 1872 (PAPER – 18 Q. NO. 681 TO 720)

THE INDIAN FORESTS ACT, 1927 (PAPER 01 Q. NO. 1 TO 43)

AILET – National Law University Delhi Entrance Test (NLU 2019)

THE CHHATTISGARH EXCISE ACT, 1915 (PAPER 01 Q. NO. 1 TO 8)

THE SPECIFIC RELIEF ACT, 1963 (PAPER – 01 Q. NO. 1 TO 35)

THE CONSTITUTION OF INDIA, 1949 (PAPER – 13 Q. NO. 421 TO 455)