Kaushik agreed to repay and transferred mortgaged land in favour of Vinayak. Vinayak assures to…

Section 58(e) of the Transfer of Property Act, 1882 defines an English mortgage as one where the mortgagor binds himself to repay the mortgage-money on a certain date and transfers the property absolutely to the mortgagee, subject to a proviso that he will retransfer it on repayment. Kaushik's personal promise to repay, the transfer of the land and Vinayak's promise to reconvey make this an "English mortgage". A mortgage by deposit of title deeds involves no transfer deed, a usufructuary mortgage gives the mortgagee possession and rents, and an anomalous mortgage is one that fits none of the defined kinds.