Under which one of the following sections of the T.P. Act, English mortgage has been defined?
Section 58(e) of the Transfer of Property Act defines an English mortgage: the mortgagor binds himself to repay on a certain date and transfers the property absolutely to…
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Under which one of the following sections of the T.P. Act, English mortgage has been defined?
Answer and explanation
Correct answer A
Section 58(e) of the Transfer of Property Act defines an English mortgage: the mortgagor binds himself to repay on a certain date and transfers the property absolutely to the mortgagee, subject to a proviso for retransfer on repayment. Section 58(d) defines a usufructuary mortgage, section 58(f) a mortgage by deposit of title deeds and section 58(g) an anomalous mortgage.
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