A mortgage secures principal of Rs. 100 or more and is outside the title-deed deposit exception. Which…
Section 59 requires a registered instrument signed by the mortgagor and attested by at least two witnesses for this mortgage. The statute excepts a mortgage by deposit of…
Choose your answer
A mortgage secures principal of Rs. 100 or more and is outside the title-deed deposit exception. Which formalities does section 59 of the Transfer of Property Act, 1882 require?
Answer and explanation
Correct answer D
Section 59 requires a registered instrument signed by the mortgagor and attested by at least two witnesses for this mortgage. The statute excepts a mortgage by deposit of title deeds from this requirement.
Option feedback
Option A
The mortgagor’s signature is required. The mortgagee’s signature cannot substitute for it.
Option B
One attesting witness falls short of the statutory minimum of two.
Option C
Section 59 requires a registered instrument for the mortgage described.
Option D
Section 59 requires a registered instrument signed by the mortgagor and attested by at least two witnesses.
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