What is the conventional name for a mortgage by deposit of title deeds under section 58(f) of the…
The transaction in section 58(f) is conventionally called an equitable mortgage. A deposit of title documents must be made in a place covered by the provision with the…
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What is the conventional name for a mortgage by deposit of title deeds under section 58(f) of the Transfer of Property Act, 1882?
Answer and explanation
Correct answer C
The transaction in section 58(f) is conventionally called an equitable mortgage. A deposit of title documents must be made in a place covered by the provision with the intention of creating security. The label does not displace its statutory character.
Option feedback
Option A
An anomalous mortgage is a residual category under section 58(g), excluding one that satisfies section 58(f).
Option B
An English mortgage involves an absolute transfer subject to retransfer on payment, with a personal undertaking to repay on a certain date.
Option C
Courts conventionally call a mortgage by deposit of title deeds an equitable mortgage.
Option D
A usufructuary mortgage involves possession or an obligation to deliver it, with authority to appropriate rents or profits as specified.
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