can anybody answer this question for me? This question is from genenral and commercial law (cs-- module II).
The equity of redemption has been recognized as immovable property. it is true or false
2 Replies
Vinod Kothari
(Chief)
(1269 Points)
Replied 14 May 2010
Hope you understand the meaning of "equity of redemption". In a mortgage, the mortgagor (borrower) has the right to claim back the property after making repayment of the loan. This is called equity of redemption
As stated, the questoin is incomplete - one does not know whether you are talking about a mortgage of immovable property or movable property. however, in India the common perception is mortgage of immovable property
Note any interest in immovable property is also an immovable property
Hence, equity of redemption in immovable property is an immovable property itself
bhubaneswari v
(student)
(68 Points)
Replied 14 May 2010
THANKS A LOT. THIS QUESTION WAS GIVEN IN CS TEST PAPER. Thanks for the explanation.
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