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'A' in lieu of debt from 'B' hands over the possession of his house to 'B' with a covenant to transfer…

Where the mortgagor binds himself to transfer the property to the creditor with a proviso for re-transfer on repayment of the debt, the transaction answers to an "English…

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'A' in lieu of debt from 'B' hands over the possession of his house to 'B' with a covenant to transfer the property in favour of 'B' but with provision for retransfer in case of repayment of debt. This type of mortgage is known as:

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Correct answer B

Where the mortgagor binds himself to transfer the property to the creditor with a proviso for re-transfer on repayment of the debt, the transaction answers to an "English mortgage" under Section 58(e) of the Transfer of Property Act, 1882.

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