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A takes a loan of ₹5,000 from B and mortgages his house as security. In the mortgage deed, it was also…

The mortgage combines a personal obligation to repay with security over the house and a right to have the property sold to satisfy the debt. These are the elements of a…

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A takes a loan of ₹5,000 from B and mortgages his house as security. In the mortgage deed, it was also mentioned that if he could not pay the amount within 5 years, then B will have right to sell the house and recover his amount. If the money could not be recovered from sale of house, then A will be personally liable. It is

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Correct answer D

The mortgage combines a personal obligation to repay with security over the house and a right to have the property sold to satisfy the debt. These are the elements of a simple mortgage under section 58(b). The facts do not state an absolute transfer of ownership, which would be necessary for an English mortgage.

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