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Under section 58(a) of the Transfer of Property Act, 1882, what is the transfer of an interest in…

The transfer of an interest in specific immovable property to secure a loan is a mortgage under section 58(a). A pledge secures an obligation by bailment of goods.

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Under section 58(a) of the Transfer of Property Act, 1882, what is the transfer of an interest in specific immovable property to secure repayment of a loan called?

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Correct answer B

The transfer of an interest in specific immovable property to secure a loan is a mortgage under section 58(a). A pledge secures an obligation by bailment of goods.

Option feedback

Option A

A pledge is a bailment of goods as security under section 172 of the Indian Contract Act, 1872.

Option B

A mortgage is a transfer of an interest in specific immovable property for a statutory security purpose, including repayment of a loan.

Option C

A lease transfers a right to enjoy immovable property under section 105. The transaction in the question transfers a security interest.

Option D

A charge under section 100 may secure payment without the transfer that makes a mortgage.

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