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'A' transfers his property to 'B' by mortgage with the condition that for ten years 'B' will take the…

Here the mortgagee recovers part of the money from the income of the property for ten years, and the mortgagor then redeems by paying the balance. This mixes the features of…

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'A' transfers his property to 'B' by mortgage with the condition that for ten years 'B' will take the mortgage money from the income of the property and thereafter 'A' shall redeem the property by making the payment of remaining amount. This mortgage is

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Here the mortgagee recovers part of the money from the income of the property for ten years, and the mortgagor then redeems by paying the balance. This mixes the features of a usufructuary mortgage and a simple mortgage, so it is an anomalous mortgage under section 58(g) of the Transfer of Property Act: "a mortgage which is not a simple mortgage, a mortgage by conditional sale, a usufructuary mortgage, an English mortgage or a mortgage by deposit of title-deeds".

There is no ostensible sale (conditional sale), no absolute transfer with a covenant to re-transfer (English mortgage), and not merely a personal undertaking to pay (simple mortgage).

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