Where immovable property of one person is by act of parties or operation of law made security for the…

Incorrect. Under Section 54 of the Transfer of Property Act, 1882, a 'sale' is a transfer of ownership in exchange for a price paid or promised, not the creation of a security for payment of money.

Correct. Under Section 100 of the Transfer of Property Act, 1882, where immovable property of one person is by act of parties or operation of law made security for the payment of money to another, and the transaction does not amount to a mortgage, the latter person is said to have a 'charge' on the property.

Incorrect. Under Section 58(a) of the Transfer of Property Act, 1882, a 'mortgage' is the transfer of an interest in specific immovable property by act of parties for the purpose of securing a loan or debt, whereas a security created either by act of parties or by operation of law without transferring an interest (not amounting to a mortgage) is a 'charge' under Section 100.

Incorrect. Because 'charge' is the exact statutory term defined in Section 100, this catch-all option is incorrect.