Explain the Rights and Liabilities of Mortgagee.

Rights and Liabilities of Mortgagee Rights of Mortgagee Right to Sell: If borrower fails to return the loan in time, then the mortgagee has the right to sell the property of the mortgagor but the same can only be sold through auction subject to approval from the court. Right to Recover Shortfall: In case the amount to be recovered falls short after selling the property, mortgagee shall have the right to recover the balance due. Refusal of Debt: Mortgagee shall have the right to get a foreclosure decree from the court. Liabilities of mortgagee Property should be protected to the best possible extent. Proper Insurance Cover against the property. No alteration to the property. All taxes, revenues levied by government should be paid.