Multiple choice

For foreclosure of a mortgage, the limitation period is 12 years from the

  1. date of loan document

  2. date of mortgage

  3. date when the money secured by the mortgage becomes due

  4. any of the above dates, whichever is earlier
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Article 63(a) of Indian limitation act, 1963 provides a limitation period, in case of foreclosure of mortgaged property. The limitation period for filing a suit for sale of mortgaged property is twelve years from the date when the mortgage debt becomes due. Thus, option 3 is the correct answer.  

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