Question:
Where a person paying off the mortgage debt is a stranger and has no interest of his own to protect, but he advances money under an agreement, express or implied, that he would be subrogated and the rights and remedies of the mortgagee whose mortgage is paid off by his money. This is called as:
Where a person paying off the mortgage debt is a stranger and has no interest of his own to protect, but he advances money under an agreement, express or implied, that he would be subrogated and the rights and remedies of the mortgagee whose mortgage is paid off by his money. This is called as:
Updated On: Aug 5, 2024
- Marshalling of securities
- Conventional subrogation
- Family arrangement
- Legal subrogation
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The Correct Option is C
Solution and Explanation
The correct option is (C):Family arrangement.
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