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Under the central rule in section 59 of the Transfer of Property Act, 1882, which mortgage securing…

Sections 58(f) and 59 allow creation by deposit of title deeds with the required intent in a specified or notified town. A writing that itself embodies the mortgage bargain…

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Under the central rule in section 59 of the Transfer of Property Act, 1882, which mortgage securing ₹100 or more can be created without a registered instrument?

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Answer and explanation

Correct answer B

Sections 58(f) and 59 allow creation by deposit of title deeds with the required intent in a specified or notified town. A writing that itself embodies the mortgage bargain requires registration. A memorandum that only records an already completed deposit does not become a mortgage instrument for that reason. For the other listed mortgage types, section 59 requires a signed, registered instrument attested by at least two witnesses at ₹100 or more.

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Option A

For the stated amount, section 59 requires a registered instrument for a usufructuary mortgage.

Option B

Deposit of title deeds with the required intent can itself create the mortgage under section 58(f).

Option C

For the stated amount, section 59 requires a registered instrument for a simple mortgage.

Option D

For the stated amount, section 59 requires a registered instrument for an English mortgage.

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