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Under the central rule in section 59 of the Transfer of Property Act, 1882, for a principal sum of Rs.…

Section 59 requires a registered instrument signed by the mortgagor and attested by two witnesses for Rs. 100 or more, except a mortgage by deposit of title deeds. That…

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Under the central rule in section 59 of the Transfer of Property Act, 1882, for a principal sum of Rs. 100 or more, which mortgage may be created without a registered mortgage instrument by satisfying its statutory requirements?

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Answer and explanation

Correct answer A

Section 59 requires a registered instrument signed by the mortgagor and attested by two witnesses for Rs. 100 or more, except a mortgage by deposit of title deeds. That exception requires delivery of title documents with security intent at a place covered by section 58(f); for a sum below Rs. 100, section 59 separately permits delivery for a non-simple mortgage.

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Option A

Title-deed deposit is excepted from section 59's instrument requirement if section 58(f) is satisfied.

Option B

An English mortgage securing Rs. 100 or more requires the prescribed registered, signed, attested instrument.

Option C

A simple mortgage is not the title-deed-deposit exception.

Option D

A usufructuary mortgage for Rs. 100 or more requires the instrument; the lower-sum delivery rule does not apply.

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