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In Mumbai, a person delivers documents of title to immovable property to a creditor with the intention…

The delivery of title documents with an intention to create security is a mortgage by deposit of title deeds under section 58(f). The section lists Mumbai under the…

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In Mumbai, a person delivers documents of title to immovable property to a creditor with the intention of creating security over that property. What kind of mortgage is this under the Transfer of Property Act, 1882?

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Correct answer D

The delivery of title documents with an intention to create security is a mortgage by deposit of title deeds under section 58(f). The section lists Mumbai under the statutory name Bombay.

Option feedback

Option A

A mortgage by conditional sale uses an ostensible sale with a qualifying condition embodied in the sale document.

Option B

A simple mortgage involves a personal undertaking to pay and a right to cause sale on default, without delivery of possession.

Option C

An English mortgage entails an absolute transfer subject to retransfer on payment, with repayment due on a fixed date.

Option D

Section 58(f) covers delivery of title documents to a creditor with the intent to create security in a designated town.

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