Under the Transfer of Property Act, 1882, which of the following kinds of mortgage defined in Section…
Section 58 of the Transfer of Property Act, 1882 defines six kinds of mortgage: simple mortgage, mortgage by conditional sale, usufructuary mortgage, English mortgage,…
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Under the Transfer of Property Act, 1882, which of the following kinds of mortgage defined in Section 58 can be effected without a registered instrument even where the principal money secured is one hundred rupees or upwards?
Answer and explanation
Correct answer D
Section 58 of the Transfer of Property Act, 1882 defines six kinds of mortgage: simple mortgage, mortgage by conditional sale, usufructuary mortgage, English mortgage, mortgage by deposit of title-deeds, and anomalous mortgage. Under Section 59 of the Act, where the principal money secured is one hundred rupees or upwards, a mortgage other than a mortgage by deposit of title-deeds can be effected only by a registered instrument signed by the mortgagor and attested by at least two witnesses. Thus, a mortgage by deposit of title-deeds (Section 58(f)) is exempted from the requirement of a registered instrument under Section 59.
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