The 'Right of Redemption' in Relation to a Mortgage of Torrens

question 47

Multiple Choice

The 'right of redemption' in relation to a mortgage of Torrens system land refers to:

• A)the mortgagee's right to insist upon the execution of a registrable release of the mortgage by the mortgagor upon payment of the loan.
• B)the mortgagor's right to insist upon the execution of a registrable release of the mortgage by the mortgagee upon payment of the loan.
• C)the mortgagor's right to redeem the land in the event of a late payment.
• D)the mortgagee's right to redeem the land if all payments were made as contracted.

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Definitions:

Payments

The transfer of money from one party to another in exchange for goods, services, or to fulfill a legal obligation.

Trade Balance

The difference in value between a country's imports and its exports over a certain period, indicating the balance of trade.

Current Account

The current account is a component of a country's balance of payments that includes the balance of trade, net primary income, and net income from abroad.

Capital Account

The capital account, in international economics, refers to part of a country's balance of payments that records all transactions involving the purchase or sale of assets.